Who Has Cheap Car Insurance Quotes for High Mileage Drivers in Alaska?

Our editors have a joke that when writing about auto insurance, the word cheap really should not be used anywhere in the article as a descriptor for auto insurance rates. Be that as it may, cheap auto insurance for high mileage drivers may be a thing of the past. But don’t let us ruin your dream, because we are going to tell you how you can find and buy insurance that won’t break the bank.

We all have different tastes in cars, and the vehicle needing coverage is a significant factor that determines whether or not you find cheap auto insurance for high mileage drivers in Alaska. Vehicles with limited speed and performance, an excellent safety record, or a low likelihood of having liability claims will cost much less to insure than higher performance models. The information below ranks coverage premiums for a selection of the cheapest automobiles to insure.

Table data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, multi-policy, multi-vehicle, claim-free, and homeowner. Premium amounts do not factor in specific location which can decrease or increase premium rates greatly.

Prices above 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, multi-vehicle, homeowner, claim-free, and safe-driver. Rate quotes do not factor in specific garaging location which can revise coverage rates considerably.

Premium data assumes married male driver age 30, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, claim-free, multi-vehicle, multi-policy, and homeowner. Price estimates do not factor in specific location information which can increase or decrease premium rates substantially.

Deciphering which insurers offer the cheapest car insurance rates for high mileage drivers requires a bit more work in order to find coverage that fits your buget.

Each auto insurer uses a little different formula for setting prices, so we’ll go over the lowest cost car insurance companies in Alaska.

Lowest Insurance Price Quotes in Alaska

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Umialik may have some of the cheapest car insurance rates in Alaska at around $874 annually. USAA, State Farm, Progressive, and GEICO are also some of the best Alaska insurance companies.

As the example above demonstrates, if you have coverage with State Farm and switched to Umialik, you could realize a yearly price reduction of in the neighborhood of $121. Drivers with Progressive might save as much as $386 a year, and GEICO insureds might realize rate reductions of up to $1,031 a year.

It’s important to note that these estimates are averaged across all types of insureds and vehicles and do not factor in a rate decrease for high mileage drivers. So the auto insurance company that fits you best may not even be featured in the above list. That helps illustrate why you need to compare rates from multiple companies using your own individual information.

When buying insurance for high mileage drivers, one of the key components that is looked at to determine the annual cost of car insurance is where your car is garaged in Alaska. Cities with larger populations like Palmer, Wasilla, and Meadow Lakes will most likely pay more, whereas less populated areas generally have lower rates.

The table below shows the priciest cities in Alaska for high mileage drivers to buy an auto insurance policy in.

Price information shown is approximated as the specific Alaska residence address can increase or decrease coverage rates considerably.

Full coverage versus liability only rates

Finding cheap auto insurance for high mileage drivers in Alaska is important to most drivers, and one of the fastest ways to buy cheap insurance is to not buy full coverage. The diagram below visualizes the comparison of auto insurance costs when comparing full coverage to liability only. The prices are based on a clean driving record, no at-fault accidents, $1,000 deductibles, single marital status, and no additional discounts are factored in.

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If we average the cost for all age groups, comprehensive and collision coverage on your policy costs $1,148 per year over and above liability only. That raises the question when is it a good idea to stop buying full coverage. There is no set rule to stop buying physical damage coverage, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, then it could be time to drop full coverage.

For example, let’s say your vehicle’s replacement cost is $10,500 and you have $1,000 physical damage deductibles. If your vehicle is totaled, the most you would get paid by your company is $9,500 after paying your deductible. If you are currently paying more than $950 a year for comprehensive and collision coverage, then you might consider buying liability only.

There are some circumstances where only buying liability is not recommended. If you have an outstanding loan on your vehicle, you have to keep full coverage in order to keep the loan. Also, if your finances do not allow you to purchase a different vehicle in the event your current vehicle is totaled, you should not buy liability only.

How to find cheap auto insurance for high mileage drivers in Alaska

It’s not impossible to find cheaper rates, and here are a few money-saving solutions that can help you quote cheap coverage.

• Higher deductibles mean lower rates
• Vehicles with safetly features generally cost less to insure
• Be a cautious driver
• Full coverage may not be needed on older vehicles
• Avoid having at-fault accidents
• Clean up your credit
• Ensure you have the best deal by shopping around regularly

That final tip is certainly important, as we discussed in this article. Coverage rates in Alaska fluctuate constantly, so don’t be unwilling to change to a new company if a better deal can be had.

Staying with the same car insurance company is fine, but is isn’t recommended if that loyalty ends up costing hundreds every year. Take a couple minutes and compare rates to find cheaper insurance for high mileage drivers.