Cheapest Car Insurance for Low Mileage Drivers in Alaska

The vehicle model you are insuring is probably the most important factor that determines whether or not you can buy the cheapest insurance for low mileage drivers. Vehicles with lower performance, excellent safety ratings, or a track record of few liability claims will cost less to insure than higher performance models. The list below presents auto insurance rates for some of the most affordable automobiles to buy insurance for.

Table data represents married female driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, homeowner, safe-driver, claim-free, and multi-policy. Table data does not factor in specific Alaska garaging location which can increase or decrease auto insurance rates greatly.

Based on these rates, models like the Ford F-150, Chevrolet Traverse, and Ford Escape should be a few of the most budget-friendly vehicles to insure for infrequent drivers.

When shopping for cheaper car insurance for infrequent drivers, one of the many criteria that aid in calculating the policy price is where you choose to live in Alaska. Cities with more crime and/or more people like Anchorage, Wasilla, and College are more likely to have higher rates, whereas less populated areas benefit from lower coverage costs.

The next table sorts the most expensive cities in Alaska for low mileage drivers to buy car insurance in.

Premium costs are approximated as zip code location can change coverage rates substantially.

Establishing which company quotes the cheapest insurance rates for low mileage drivers will involve a little more effort in order to find the lowest price.

Every car insurance company has a proprietary formula to set policy rates, so we’ll go over the insurance companies with the most affordable rates in Alaska. It’s important to understand that Alaska insurance rates are based on many factors that control your annual premium. Improving your credit score, buying a different home, or having an at-fault accident can cause premium changes resulting in some companies being cheaper than before.

Best Car Insurance Prices in Alaska

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Umialik quotes some of the best car insurance rates in Alaska at around $874 annually. USAA, State Farm, Progressive, and GEICO would also be considered some of the cheapest Alaska insurance companies.

As shown in the table above, if you are a customer of State Farm and switched to Umialik, you might realize a yearly savings of around $121. Insureds with Progressive might save as much as $349 a year, and GEICO insureds might lower prices by up to $1,031 a year.

Be aware that those premiums are averages for all drivers and vehicles and do not factor in a rate decrease for low mileage drivers. So the car insurance company that is best suited for you may not even be included in the company chart above. That’s why you need to get rate quotes using your own driver and vehicle profiles.

Liability-only versus full coverage

Finding the cheapest auto insurance for low mileage drivers in Alaska is the goal of the majority of vehicle owners, and one way to buy cheaper insurance is to buy only liability coverage. The diagram below illustrates the difference between yearly insurance costs when comparing full coverage to liability only. The data is based on no claims or driving citations, $250 deductibles, single marital status, and no discounts are applied to the premium.

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If the expense is averaged for all age categories, full coverage costs $1,915 per year more than just buying liability insurance. That is a large expense which might make you wonder if you should buy full coverage at all. There is no clear-cut rule for eliminating full coverage on your policy, but there is a general guideline. If the annual cost of coverage is about 10% or more of the replacement cost minus the deductible, then you may need to consider dropping full coverage.

For example, let’s say your vehicle’s claim settlement value is $5,500 and you have $1,000 full coverage deductibles. If your vehicle is totaled, the most you would receive is $4,500 after the deductible is paid. If you are paying more than $450 a year to have full coverage, then you might want to think about dropping full coverage.

Find the cheapest auto insurance for low mileage drivers in Alaska

The list below summarizes many money-saving solutions that can help Alaska drivers get the cheapest car insurance.

• Do not get traffic citations
• Safer vehicles cost less to insure
• Good credit scores may make rates cheaper
• Avoid preventable accidents
• On older vehicles, drop full coverage
• Raise deductibles
• Shop around once a year for cheaper rates

That last tip is extraordinarily vital, as was noted in this write-up. Prices charged by car insurance companies vary greatly, so drivers shouldn’t be reluctant to change to a new company if a more affordable price is available.

Many consumers stick with the same company and that’s fine, but it’s not recommended if that loyalty ends up costing money that could be going to better use. In just a couple of minutes you could compare rates to find cheaper auto insurance for low mileage drivers.