Cheapest Auto Insurance Quotes for Homeowners in Alaska

Comparing rates for reasonably-priced auto insurance is not the easiest thing to accomplish, and finding out which companies quote the cheapest insurance rates for homeowners may require a bit more work. Prices should be somewhat less expensive than the average price in Alaska due to the reduced risk that comes with selling insurance for people who own their homes. Affordable insurance should be easy to buy from a lot of good insurance companies.

Each insurance company has their own guidelines for setting rates, so first let’s look at the rankings for the overall cheapest insurance companies in Alaska.

Cheap Insurance Rates for Homeowners

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Umialik may have some of the cheapest car insurance rates in Alaska at around $874 a year. USAA, State Farm, Progressive, and GEICO also rank well as some of the cheaper Alaska auto insurance companies.

In this example, if you are a customer of State Farm and switched to Umialik, you might see a yearly savings of in the neighborhood of $121. Drivers with Progressive might save as much as $349 a year, and GEICO customers might reduce prices by as much as $1,088 a year.

To find out how your current rates compare, click here to get quotes or click through to the companies below.

These policy prices are averaged across all types of drivers and the different vehicles they drive and and are not calculated with a rate discount for homeowners. So the company that has the lowest price for you may not even be in the company chart above. That underscores the importance of why you need to compare prices as often as possible using your own specific driver information and vehicle.

When buying auto insurance for people who own their homes, one of the key criteria that is looked at to help calculate the price you pay for insurance is where your residence is in Alaska. Densely populated urban areas like Palmer, College, and Wasilla tend to pay more, whereas more rural areas get the luxury of paying less.

The following table sorts the highest-priced areas in Alaska for homeowners in which to buy car insurance.

Rate information is comparative as zip code location can decrease or increase auto insurance rates greatly.

Full coverage versus liability-only in Alaska

Finding the cheapest car insurance for homeowners in Alaska is important to the majority of people, and an effective way to find cheap insurance is to buy only liability coverage. The chart below shows the difference between insurance premiums when comparing full coverage to liability only. The prices are based on no tickets, no at-fault accidents, $250 deductibles, drivers are single, and no discounts are applied to the premium.

As an average for all age groups, physical damage coverage costs $1,915 per year more than just insuring for liability. That amount may make you wonder if buying full coverage is a good investment. There is no specific rule to stop paying for comprehensive and collision coverage on your policy, but there is a guideline you can use. If the yearly cost for physical damage coverage is more than about 10% of replacement cost minus your deductible, the it may be a good time to stop paying for full coverage.

There are a few cases where buying only liability insurance is not in your best interest. If you still have a lienholder on your title, you have to carry full coverage to protect the lienholder’s interest. Also, if you can’t afford to buy a different vehicle if your current one is damaged, you should not consider dropping full coverage.

Find the cheapest car insurance for homeowners in Alaska

The list below shows a few thrifty ideas that can help drivers get the cheapest auto insurance.

• Good credit scores may make rates cheaper
• Pay less by remaining claim-free
• Avoid at-fault accidents and claims
• Buying your home and auto policies from the same company can earn a discount
• Do not get tickets or violations
• Raise physical damage deductibles
• Compare quotes from other companies often

The last tip is extremely crucial, as was noted in the prior article. Coverage prices change constantly, so you should be ready to switch companies if a better rate can be found. Brand loyalty is not necessarily bad, but it’s not a good idea if it’s costing you thousands of dollars over the life of your policy. It only takes a couple minutes to compare prices to find cheaper auto insurance for homeowners.