Cheap Car Insurance for Retired Military in Alaska

Trying to buy budget insurance is not the easiest thing to do, and finding out which company quotes the best auto insurance rates for retired military will take more quotes for comparison. Every car insurance company has their own guidelines for setting rates, so we’ll go over the auto insurance companies with the most affordable rates in Alaska.

It’s a good idea to know that Alaska auto insurance rates are calculated based on many things that control the policy premium. Improving your credit score, getting married, or getting a ticket for running a stop sign may cause policy rate changes resulting in some companies being affordable when they were higher priced.

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Umialik normally has some of the best car insurance rates in Alaska at around $865 per year. USAA, State Farm, Progressive, and GEICO would also be considered some of the more affordable Alaska auto insurance companies.

In the above example, if you are currently insured with Progressive and switched to Umialik, you may see savings of around $395. Insureds with GEICO might save as much as $1,021 a year, and Allstate policyholders might lower prices by $1,438 a year.

To find cheap auto insurance for retired military in Alaska, click here to start your custom quote or visit any of the companies below.

Remember that these estimates are averaged for all drivers and vehicles in Alaska and and are not calculated with a rate decrease for retired military. So the insurer that is best suited for you may not even be included in the list of companies shown earlier. That emphasizes why you need to quote rates from as many companies as possible using your own driver data and vehicle information.

For Alaska drivers, one of the things that help determine a rate quote is your address. Areas with more people or higher crime rates like Palmer, College, and Meadow Lakes likely pay more, whereas areas with less congestion benefit from lower prices.

The illustration below sorts the highest-priced places in Alaska for retired military to buy car insurance in.

Rates are approximated as the specific area where the vehicle is garaged can impact coverage prices considerably.

The vehicle model you are insuring is probably the biggest factor when shopping around for cheap auto insurance for retired military in Alaska. Vehicles with higher performance, poor passenger safety features, or an increased likelihood of liability claims will cost quite a bit more to insure than more economical and safe models.

The table below estimates coverage rates for a selection of the most cost-effective automobiles to insure.

Data based on single male driver age 50, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, multi-vehicle, safe-driver, multi-policy, and homeowner. Rates do not factor in specific garaging location which can modify coverage rates considerably.

Looking at the data, we can infer that vehicles like the Ford Escape, Honda Accord, Honda CR-V, and Jeep Wrangler are likely to be the cheapest vehicles to insure for veterans.

Alaska auto insurance company ratings

Selecting the top auto insurance company is difficult considering how many different companies insure vehicles in Alaska. The rank data shown below could help you analyze which car insurance providers you want to consider when trying to find cheaper insurance for retired military.

The ratings below are only comprised of major nationwide insurance companies, so companies without a large exposure are not factored into this list. If you wish to compare rates from the most competitive companies in Alaska, just click here.

Should you buy full coverage?

Finding cheap auto insurance for retired military in Alaska is the goal of the majority of drivers, and an easy way to buy cheap insurance is to not buy full coverage. The information below shows the difference between car insurance costs with liability coverage only compared to full coverage. The prices are based on no violations or claims, $1,000 deductibles, drivers are not married, and no other discounts are factored in.

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If averaged out across all ages, physical damage insurance costs $1,530 per year over having just liability coverage. At some point, about every driver wonders if physical damage coverage is worth the money. There is no clear-cut formula of when to drop full coverage, but there is a general convention. If the annual cost of having full coverage is more than around 10% of any settlement you would receive from your insurance company, then it might be time to consider dropping full coverage.

For example, let’s assume your vehicle’s book value is $9,500 and you have $1,000 deductibles. If your vehicle is damaged in an accident, the most you would receive is $8,500 after you pay the deductible. If you are currently paying more than $850 annually for full coverage, then it might be time to buy liability only.

There are a few situations where removing full coverage is not financially feasible. If you haven’t satisfied your loan, you have to maintain full coverage as part of the loan conditions. Also, if your finances do not allow you to purchase a different vehicle in the even your car is totaled, you should maintain full coverage.

Is Allstate, Geico, Progressive, or State Farm cheaper?

If you’re looking for the best car insurance for veterans in Alaska, four companies to take a look at are Allstate, Geico, Progressive, and State Farm. If you put them all together, they insure over 45% of the car insurance market in the United States. All offer your standard physical damage and liability coverages, but each one has a distict selection of optional coverages and features that shoppers can choose from. The following table shows ratings for price, service, and claims, in additional to some of the optional coverages that may be available in Alaska.

Cheap insurance quotes for veterans

There are a variety of different ways to purchase auto insurance in Alaska, but the three most common are either through a non-exclusive or independent agent, a captive (or exclusive) agent like Allstate or Liberty Mutual, or direct either online or via phone.

Each way is similar, but they are slightly different in how they give price quotes.

Independent insurance agents have contracts with multiple insurance companies and can compare coverage rates with all of them. They have the ability to quote rates with many companies, which may give you the best shot at cutting your rates. If cheaper coverage is found, your policy can be easily switched to a different company which is easy for the insured.

An exclusive agent is only able to give prices for a single insurance company, two popular examples being Farmers Insurance or State Farm agents. Exclusive agencies are unable to provide rates from more than one company, so it’s a good idea to get additional quotes.

Consumers who buy auto insurance direct skip a local insurance agent and buy from a direct company like Esurance. Shopping for auto insurance direct may be good for consumers who have lower risk management needs and have some degree of understanding of how auto insurance works.

So comparing independent agents, exclusive agents, and direct, which one works best for finding cheap auto insurance for retired military in Alaska? Most people would assume that shopping direct saves the most money since there isn’t an agent involved, but in reality, that argument does not hold true. We could also assume that an independent agent guarantees the lowest rates since they can provide multiple quotes, but that is not accurate either. In many cases, exclusive agencies have price quotes that are the lowest in Alaska.

Because there are so many factors that make up auto insurance rates, the best way to get rock-bottom rates is to get as many comparison quotes as possible. Industry experts recommend getting price quotes all three ways in order to be able to find the lowest price. To see some of the cheapest online companies available, click here to view.