How Much Does Auto Insurance Cost for Teachers in Alaska?

Everyone has different tastes in autos, and the style of vehicle requiring insurance is probably the most important factor in finding cheap insurance for teachers in Alaska. Vehicles with reasonable performance levels, a plethora of safety features, or a positive history of liability claims will cost much less to insure than higher performance models. The tables below outlines auto insurance costs for the most budget-friendly automobiles to insure in Alaska.

Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alaska minimum liability limits. Discounts applied include multi-policy, safe-driver, homeowner, claim-free, and multi-vehicle. Premium costs do not factor in vehicle location which can influence auto insurance rates significantly.

Data based on married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, homeowner, multi-vehicle, multi-policy, and claim-free. Rate quotes do not factor in specific location information which can revise coverage prices significantly.

Cost estimates assume married male driver age 50, no speeding tickets, no at-fault accidents, $1000 deductibles, and Alaska minimum liability limits. Discounts applied include safe-driver, multi-vehicle, homeowner, multi-policy, and claim-free. Rates do not factor in specific location which can impact insurance rates noticeably.

Finding cost effective auto insurance is challenging, and deciding which company offers the cheapest insurance rates for teachers involves even more rate comparisons. Coverage prices may be slightly cheaper than the average rate in Alaska, with the lower price attributed to the potential for less claims associated with selling coverage for teachers and educators. Competitive insurance should be obtainable without looking to hard.

Each company has a unique formula to determine premium rates, so first let’s look at the rankings for the insurance companies with the overall best prices in Alaska. It’s important to know that Alaska insurance rates are impacted by many things that control the cost of having a policy. That is why consumers need to compare many different companies when trying to get the cheapest car insurance rates for teachers. Insurance prices are made up of many different factors and can change substantially, so the most affordable company the last time you shopped your coverage around may now be an over-priced policy.

Best Auto Insurance Prices for Educators

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Umialik generally has some of the lowest car insurance rates in Alaska at around $892 each year. USAA, State Farm, Progressive, and GEICO also make the cut as some of the cheaper Alaska auto insurance companies.

In the rate table above, if you buy coverage from Progressive and switched to USAA, you could see an annual savings of around $293. Alaska drivers with GEICO could save as much as $995 a year, and Allstate insureds might cut rates by $1,407 a year.

To get a fast rate comparison, click here or click through to the companies below.

Remember that these premiums are averages for all insureds and vehicles and do not take into consideration a rate discount for teachers. So the company that is best for you may not even be featured in the company chart above. That point stresses why you need to compare prices as often as possible using your own driver data and vehicle information.

The diagram below illustrates how your choice of deductibles can raise or lower insurance premiums when researching cheap insurance for teachers. The price estimates are based on a single male driver, full coverage, and no policy discounts are applied.

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The data above shows that a 40-year-old driver could lower their car insurance rates by $226 a year by increasing from a $100 deductible to a $500 deductible, or save $338 by selecting a $1,000 deductible. Younger drivers, such as the 20-year-old example, could shave as much as $732 annually just by choosing larger deductibles. When raising deductibles, it’s a good idea to have enough in a savings account to offset the extra out-of-pocket expense, which is the main inconvenience of larger deductibles.

Rate difference between full and liability-only coverage

Finding cheap insurance for teachers in Alaska should be important to the majority of people, and one great way to find cheaper insurance is to not buy full coverage. The chart below compares car insurance rates with and without physical damage coverage. The price estimates are based on no violations or accidents, $100 deductibles, drivers are not married, and no policy discounts are applied.

google.charts.setOnLoadCallback(drawFclqcibChart);function drawFclqcibChart() {var data = google.visualization.arrayToDataTable([[‘Age of Insured’, ‘Full Coverage with $100 Deductibles’, ‘Liability Only’],[‘Age 20’, 2675,829],[‘Age 30’, 1397,459],[‘Age 40’, 1383,427],[‘Age 50’, 1255,399],[‘Age 60’, 1215,393],[‘Age 70’, 1469,523]]);var options = {title: ‘Full Coverage Versus Liability Only’,titleTextStyle: {color: ‘#333’,fontSize: 17,bold: true},width: ‘100%’,height: 500,’chartArea’: {left:100,top:50,’width’: ‘100%’, ‘height’: ‘70%’},legend: {position: ‘bottom’},colors: [‘#6791b9′,’#98bee2’],hAxis: {title: ‘Annual Auto Insurance Cost for Average Vehicle in Alaska’,minValue: 0,format: ‘$###,###’},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);}

Averaged out for all age groups, physical damage coverage on your policy costs an extra $1,566 per year over and above liability coverage. That brings up the question if it’s a good idea to buy full coverage. There is no clear-cut rule that works best for making the decision to drop comprehensive and collision coverage on your policy, but there is a guideline you can consider. If the annual cost of coverage is 10% or more of replacement cost minus your deductible, then you might consider buying liability only.

For example, let’s say your vehicle’s claim settlement value is $11,000 and you have $1,000 full coverage deductibles. If your vehicle is destroyed, the most you would get paid by your company is $10,000 after paying the physical damage deductible. If premiums are more than $1,000 a year for physical damage coverage, then it could be time to drop full coverage.

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

When buying auto insurance, the companies with the most market share are Progressive, Allstate, Geico, and State Farm. All four offer physical damage and liability coverage, but each has unique features and discounts that shoppers can select from. The next table illustrates price, claims, and customer service ratings, as well as some optional coverages you can expect with each one.

Who has the cheapest insurance quotes for teachers and educators?

There are many different ways to shop for and buy insurance in Alaska, but the three most common are through an independent agent, a captive (or exclusive) agent such as Allstate or Auto-Owners, or direct online or over the phone from a company like Progressive or Geico.

All three ways are similar, but insurance buyers need to understand the differences in how they price policies.

Independent insurance agents write for multiple companies and can compare coverage rates with every one. These types of agencies are usually affiliated with several companies and can provide you with more rate quotes, which can give you improved odds of finding cheaper coverage. If they quote lower rates, the agent simply finds a different carrier which prevents you from having to find a new agency.

An agent who is captive is only able to write with just one company, two examples being an Allstate or Liberty Mutual agent. They generally cannot provide a range of price quotes, so if prices are high they cannot provide alternatives.

Opting to purchase insurance direct means you do not use either of the other two types of agents and instead buy from a direct company like Progressive or Geico. Buying direct can be a good choice for drivers who do not have a need for a risk management assessment and have an above average understanding of what is covered and what is not.

Out of those three methods, which one works best for finding cheap insurance for teachers in Alaska? We’d like to tell you shopping direct saves the most money since no commissions are paid to an agent, but in reality, that argument does not hold true. And we’d like to say going through an independent agent guarantees the lowest rates since they can provide multiple quotes, but that is not accurate either. In the right set of circumstances, the exclusive agents have extremely competitive rates that independents and direct companies can’t touch.

Because it’s impossible to say who has the best insurance rates, the only real way to get rock-bottom rates is to compare, compare, and compare some more. Money-saving experts recommend you get rate quotes from independent agents, exclusive agents, and direct companies to have enough rates to compare. For a list of companies with some of the cheapest Alaska insurance rates, click here to view.