Who Has Cheap Car Insurance for Veterans in Alaska?

The words “bargain” and “insurance” probably shouldn’t be used in the same sentence, in particular when you are searching for the best insurance rates for veterans. To save some money, let’s learn about a few of the factors that have a considerable impact on car insurance prices, and find out if you can slash the price of the next policy you buy.

Performance level and cost of the vehicle you are trying to insure is probably the biggest factor when comparison shopping for the best auto insurance for veterans. Vehicles with limited speed and performance, a plethora of safety features, or a low likelihood of having liability claims will cost less to insure than fast, unsafe models.

The tables below outlines coverage costs for the cheapest vehicles to buy coverage for.

Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include homeowner, claim-free, multi-vehicle, multi-policy, and safe-driver. Estimates do not factor in specific garaging location which can alter auto insurance rates considerably.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, safe-driver, claim-free, homeowner, and multi-vehicle. Information does not factor in vehicle location which can change premium rates significantly.

Data rating is based on married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, safe-driver, and homeowner. Prices do not factor in the specific area where the vehicle is garaged which can modify price quotes significantly.

Finding good, low-cost auto insurance is easier said than done, and deciding which company offers the lowest-priced car insurance rates for veterans will involve a bit more work. Each company uses slightly different criteria for setting rates, so first let’s look at the rankings for the car insurance companies that tend to be cheaper in Alaska.

Keep in mind that Alaska car insurance rates are calculated based on many things which can substantially decrease or increase the price you pay. This price fluctuation is why Alaska drivers need to compare many different companies to get affordable auto insurance quotes for veterans. Car insurance prices are impacted by many factors and can change without notice, so the lowest-price company the last time you compared rates may now be an over-priced policy.

Best Auto Insurance Prices for Vets

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Umialik normally has some of the best car insurance rates in Alaska at around $901 per year. USAA, State Farm, Progressive, and GEICO also are some of the more affordable Alaska insurance companies.

As depicted above, if you are a customer of Progressive and switched to USAA, you might realize an annual savings of around $256. Drivers with GEICO could save as much as $995 a year, and Allstate customers might reduce rates by $1,336 a year.

To find cheap auto insurance for veterans in Alaska for your vehicle, click here to get quotes or quote rates from the companies below.

Remember that these premium estimates are averages for all types of insureds and vehicles and do not factor in a price discount for veterans. So the company that can offer you the best rate may not even be included in the list of companies shown earlier. That emphasizes why you need to get rate quotes from many companies using your own driver data and vehicle information.

Should you buy full coverage?

Finding cheap auto insurance for veterans in Alaska is probably important to the majority of people, and one way to buy cheap insurance is to only buy liability insurance. The example below visualizes the comparison of premium costs with and without physical damage coverage. The prices are based on no claims or driving violations, $1,000 deductibles, marital status is single, and no discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $1,000 Deductibles’, ‘Liability Only’],[‘Age 20’, 1943,829],[‘Age 30’, 1031,459],[‘Age 40’, 1003,427],[‘Age 50’, 917,399],[‘Age 60’, 889,393],[‘Age 70’, 1107,523]]);var options = {title: ‘Comparison of Rates for Full Coverage and Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Alaska’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);var chart = new google.visualization.BarChart(document.getElementById(‘qcibfcl’));chart.draw(data, options);}

As an overall average, full coverage costs an extra $1,148 per year over and above liability only. Many drivers will wonder if paying for full coverage is worth it. There is no exact rule of when to exclude physical damage insurance, but there is a general convention. If the yearly cost of full coverage is more than around 10% of the vehicle’s replacement cost less your deductible, then it might be time to buy liability only.

For example, let’s say your vehicle’s replacement value is $4,500 and you have $1,000 deductibles. If your vehicle is destroyed, the most your company will settle for is $3,500 after the policy deductible has been paid. If you are paying more than $350 annually for comprehensive and collision coverage, then it may be the right time to buy liability only.

There are some cases where buying only liability insurance is not a good idea. If you still have a loan on your vehicle, you have to keep full coverage in order to prevent your loan from defaulting. Also, if you cannot afford to purchase a different vehicle in the event your current vehicle is totaled, you should not opt for liability only.

The example below illustrates how your deductible choice can increase or decrease insurance premiums when getting quotes for cheap insurance for veterans. The information is based on a married male driver, full physical damage coverage, and no other discounts are factored in.

google.charts.setOnLoadCallback(drawDfdqcibChart);function drawDfdqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘$100 Deductible’,’$250 Deductible’,’$500 Deductible’,’$1,000 Deductible’],[‘Age 20’, 2311,2113,1891,1681],[‘Age 30’, 1221,1115,993,873],[‘Age 40’, 1169,1073,959,851],[‘Age 50’, 1071,983,883,785],[‘Age 60’, 1051,963,865,769],[‘Age 70’, 1207,1113,1007,905]]);var options = {title: ‘Deductible Levels and Car Insurance Rates in Alaska’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 700,’chartArea’: {left:100,top:50,’width’: ‘100%’,’height’: ‘80%’},legend: {position: ‘bottom’,textStyle: {fontSize: 12}},bar: {groupWidth: ‘80%’},colors: [‘#6791b9′,’#75a8d8′,’#98bee2′,’#bad4ec’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle’,minValue: 0,format: ‘$###,###’},vAxis: {title: ‘Age of Insured’}};var formatter = new google.visualization.NumberFormat({fractionDigits: 0,prefix: ‘$’});formatter.format(data,1);formatter.format(data,2);formatter.format(data,3);formatter.format(data,4);var chart = new google.visualization.BarChart(document.getElementById(‘qcibdfd’));chart.draw(data, options);}

The data above shows that a 40-year-old driver could pocket $188 a year by switching the physical damage coverage from a $100 deductible to a $500 deductible, or save $286 by using a $1,000 deductible. Young drivers, like the Age 20 category, could roll back prices as much as $630 every year just by choosing higher deductibles when buying full coverage.

If you do decide to increase your deductibles, it will be necessary to have enough savings set aside to satisfy the extra out-of-pocket expense that comes with higher deductibles.

Company comparison: Geico vs Progressive vs State Farm vs Allstate

When shopping for auto insurance for veterans in Alaska, probably the best companies to start with are Geico, Progressive, State Farm, and Allstate. Combined they insure about 50% of all policies written. All of them have a slightly different mix of options and features that you can select from. The data below points out ratings and policy coverage options that are available.