How Much Does Auto Insurance Cost for Single Moms in Alaska?

It’s hard to miss the commercials from auto insurance companies like Allstate and State Farm guaranteeing huge savings, so you just need to choose the one with the flashiest ad, right?

Unfortunately, it’s just not that easy, as there are a whole bunch of unknown factors like the neighborhood you live in, if you own your own home, and whether you are a man or a woman. This article will discuss the best ways to save money and hopefully give you enough understanding to have a good start in finding the cheapest insurance.

The car, truck, or SUV you are buying coverage for is probably the biggest factor when consumers are trying to find cheap car insurance for single moms in Alaska. Vehicles with average performance, a plethora of safety features, or a low likelihood of having liability claims will cost quite a bit less to insure than fast, unsafe models. The list below illustrates insurance rates for some of the most economical automobiles to buy insurance for.

Above prices assume single female driver age 40, no speeding tickets, no at-fault accidents, $500 deductibles, and Alaska minimum liability limits. Discounts applied include claim-free, safe-driver, homeowner, multi-policy, and multi-vehicle. Estimates do not factor in the specific area where the vehicle is garaged which can impact auto insurance rates considerably.

Looking at the data, you can figure that cars like the Honda Accord, Ford Escape, Ford Edge, and Dodge Grand Caravan will definitely be the most affordable vehicles to insure for single parents.

One of the key factors that is used to calculate the cost of insurance is the neighborhood you call home in Alaska. Cities with more crime and/or more people like Wasilla, Palmer, and Anchorage tend to pay higher rates, whereas areas that tend to be more rural get the luxury of paying less.

The table below shows the more expensive cities in Alaska for single moms to buy auto insurance in.

Rate quotes are comparative as the specific Alaska residence address can increase or decrease coverage rates greatly.

Get discount Alaska auto insurance

Insurance companies that offer cheap car insurance for single moms in Alaska could also offer discounts that could potentially reduce rates by as much as 40% or more if you meet specific criteria. A list of auto insurance companies and some of their more popular discounts can be found below.

• GEICO has savings for five-year accident-free, military active duty, emergency military deployment, driver training, and multi-policy.
• USAA offers discounts including multi-vehicle, loyalty savings, safe driver, driver training, multi-policy, new vehicle, and annual mileage.
• Progressive offers discounts for online quote discount, homeowner, online signing, multi-vehicle, and multi-policy.
• American Family offers premium reductions for accident-free, defensive driver, Steer into Savings, early bird, and air bags.
• Esurance has discounts for defensive driver, DriveSense, Switch & Save, Pac-12 alumni, and online quote.
• Farmers Insurance discounts include multi-car, electronic funds transfer, teen driver, mature driver, bundle discounts, good student, and alternative fuel.
• State Farm includes discounts for Steer Clear safe driver discount, anti-theft, accident-free, student away at school, passive restraint, defensive driving training, and safe vehicle.

The information below illustrates the comparison of annual premium costs with and without discounts applied to the premium. The premiums assume a male driver, no claims or violations, Alaska state minimum liability limits, full coverage, and $1,000 deductibles.

The first bar for each age group shows premium with no discounts. The second shows the rates with vehicle safety, claim-free, passive restraint, defensive driving course, marriage, and homeowner discounts applied. With discounts applied, the the average amount saved on auto insurance for single moms is 28% or $429.

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The information below shows how choosing a deductible can raise or lower insurance prices when trying to find cheap insurance for single moms. The data assumes a married male driver, comp and collision included, and no discounts are taken into consideration.

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The chart above illustrates that a 40-year-old driver could reduce rates by $188 a year by changing their physical damage coverage from a $100 deductible up to a $500 deductible, or save $286 by using a $1,000 deductible. Even younger drivers, such as the 20-year-old chart data, could shave $630 annually just by choosing higher deductibles. If you make the decision to raise deductibles, it’s a good idea to have plenty of discretionary funds to enable you to cover the extra out-of-pocket expense. This is the primary disadvantage of choosing high deductibles.

Progressive, Allstate, Geico, and State Farm: Who is best?

If you want the best auto insurance for single parents, four companies to take a look at are Progressive, Allstate, Geico, and State Farm. If you put them all together, they insure over 45% of all policies written. All four can cover your vehicle for liability and physical damage, but each one has slightly different options that policyholders can choose from. The data below illustrates some of the different options shoppers can expect to find with each one.

Who has the cheapest insurance quotes for single parents?

Due to technology, there are many ways to compare auto insurance quotes in Alaska, but the most popular methods are from a non-exclusive or independent agent, a captive (or exclusive) agency like State Farm or Liberty Mutual, or from a direct company like Geico or Progressive. They all have the same basic principle, but each is different in how they provide rate quotes.

Independent insurance agencies write for multiple companies and can provide price quotes from each one. These types of agents are not required to write business for one company and can provide you with more rates, which can give you better odds of saving money. If a cheaper price is found, they simply move the coverage in-house and you don’t have to find a new agent.

Exclusive agencies are able to place business with just one company, two examples are a State Farm or Liberty Mutual agent. They generally cannot quote prices from more than just one company, so they have no alternatives for high prices.

Consumers who buy auto insurance direct skip either of the other two types of agents and instead shop from a direct company like Progressive. Buying auto insurance direct may be good for families who do not need advice for asset protection and have a decent understanding of what auto insurance covers.

So which of the methods works best to buy cheap car insurance for single moms in Alaska? It would be obvious to point out buying direct saves the most money since there is no middleman, but that is not always the case. It would also be easy to say going through an independent agent guarantees the lowest rates because they can shop around, but that assumption is also not necessarily accurate. And occasionally, exclusive agencies have coverage prices that cannot be beaten by either independent or direct companies.

Due to the fact that auto insurance rates vary so much, the only true way to get the cheapest rates is to obtain price quotes and compare them. Be sure to get quotes from all three in order to have the best selection to choose from. For a list of companies with cheap rates in Alaska, click here to view.