Who Has the Cheapest Insurance Quotes for a Toyota Corolla in Alaska?
Enter your Alaska zip code below to view companies that have cheap auto insurance rates.
UPDATED: Nov 9, 2019
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Our staff writers always rib each other than when writing about auto insurance, the word affordable should not be used anywhere in the article to describe car insurance prices. Unfortunately, cheap auto insurance for a Toyota Corolla can be hard to find. Don’t let that spoil your day, because we are going to tell you how you can still get auto insurance that may not be cheap, but it is affordable.
The odds of finding the cheapest insurance for a Toyota Corolla in Alaska relies on a lot of rating factors such as your marital status, the likelihood of your vehicle being stolen, and physical damage deductibles. Drivers in Alaska pay on average $800 annually to buy Toyota Corolla insurance, but that rate is a valuation based on rates for a 30-year-old married male who purchased both comprehensive and collision coverage and $250 physical damage deductibles.
But there is a high likelihood that you are not 30 and maybe not even a male, maybe you are single instead of married, or maybe you don’t qualify for the same discounts. Have just a small change in policy rating criteria or coverages can make a large difference in the policy cost.
Different coverage needs are the reason why your best chance at finding the most affordable coverage for your Toyota is to regularly compare rates at renewal.
The trim level of your Toyota will most likely have an effect on the cost of insurance, so the rate you will pay to insure a Corolla LE will be $28 lower than the insurance cost for the more expensive Corolla XRS trim level, as shown in the table below.
|Model||Comp||Collision||Liability||Medical||UM/UIM||Annual Premium||Monthly Premium|
|Get Your Own Custom Quote Go|
Data based on married male driver age 30, no speeding tickets, no at-fault accidents, $250 deductibles, and Alaska minimum liability limits. Discounts applied include multi-vehicle, claim-free, multi-policy, homeowner, and safe-driver. Information does not factor in vehicle garaging location which can raise or lower coverage rates considerably.
Trying to buy affordable car insurance is not always easy, and deciding which company offers the most affordable car insurance rates for a Toyota Corolla calls for even more work.
Every car insurance company has their own formula for determining rates in each state, so first we will examine the overall cheapest car insurance companies in Alaska. It’s important that readers know that Alaska car insurance rates are influenced by many factors which can substantially change the policy price. This price variability is why it is critical to shop around when trying to get the cheapest auto insurance rates for a Toyota Corolla. Rates are impacted by many things and change frequently, so the cheapest option three years ago may now cost much more than other companies.
|Rank||Company||Cost Per Year|
|Get a Custom Quote Go|
Umialik normally has some of the cheapest car insurance rates in Alaska at around $865 a year. USAA, State Farm, Progressive, and GEICO would also be considered some of the more affordable Alaska car insurance companies.
In the above example, if you have coverage with State Farm and switched to Umialik, you might realize an annual savings of about $140. Policyholders with Progressive could save as much as $395 a year, and GEICO customers might see rate reductions of $1,097 a year.
Bear in mind that those rates are averages for all ages of drivers and types of vehicles and and are not calculated with a specific rate value for a Toyota Corolla. So the company that fits your situation best may not even be in the above list. That illustrates why you need to compare as many prices as possible using your own driver and vehicle profiles.
Enter your zip code below to view companies that have cheap auto insurance rates.
Cost difference between full coverage and liability
Finding the cheapest insurance for a Toyota Corolla in Alaska is probably important to most people, and an easy way to buy cheap insurance is to only pay for liability coverage. The illustration below visualizes the comparison of insurance costs with liability coverage only compared to full coverage. The premiums are based on no claims or driving citations, $250 deductibles, drivers are not married, and no discounts are taken into consideration.
If all age groups are averaged, physical damage coverage costs $1,816 per year more than insuring for liability only. That amount may make you wonder if it’s a good idea to buy full coverage. There is no set rule to stop paying for physical damage coverage on your policy, but there is a general school of thought. If the yearly cost for physical damage coverage is more than about 10% of the settlement you would receive from your company, then you may want to consider only buying liability coverage.
For example, let’s say your vehicle’s claim settlement value is $8,000 and you have $1,000 deductibles. If your vehicle is totaled, the most your company will settle for is $7,000 after you pay the deductible. If it’s costing you more than $700 annually to have full coverage, then you might want to consider buying only liability coverage.
Chances are good that you’re overpaying for Corolla insurance
Alaska car insurance rates are determined by lots of factors which can substantially decrease or increase the cost of a policy. Simply getting older, having a claim, or getting a driving violation can cause premium changes resulting in some rates now being cheaper than before.
Also, insurers file new Alaska car insurance rates without warning in order to be able to pay unexpected claims. Heavier than normal losses can cause more expensive prices, while a profitable period may produce lower-cost Corolla insurance rates.
For instance, the chart below shows the companies that have the cheapest car insurance in Alaska for a 35-year-old male driver with no accidents or violations, and good credit. If we look at prices based on his personal profile, Umialik might offer the cheapest car insurance rates in Alaska at $901 per year. This is $642 less than the average policy premium paid by Alaska drivers of $1,543. State Farm, USAA, Progressive, and GEICO also make the list of the cheapest Alaska auto insurance companies.
The chart below compares rates after we give the driver from the first example a claim, poor credit, and a few traffic violations. Due to the fact that each insurance company has a different process to set their prices, getting updated rate quotes will most likely result in a different set of affordable Alaska car insurance companies as shown below.
State Farm now has the best price on car insurance in Alaska with USAA, Progressive, Umialik, and Safeco now rounding out the top five. This shows why it is important to take the time to shop around to find the most budget-friendly car insurance quotes for a Toyota Corolla.
Insurance rates can be determined by many different factors and change frequently, so the lowest-price company three years ago may now be quite expensive.
Find the cheapest insurance for a Toyota Corolla in Alaska
Lowering your rates is not difficult, and here are some penny-pinching ideas that can help you get lower-cost coverage.
- Claim-free policyholders usually earn a discount
- Tickets and violations raise rates
- Remain accident-free and save
- Buy vehicles with good safety ratings
- Home or renters coverage can save on auto insurance
- Check for cheaper rates once a year
That last piece of advice is certainly vital, as was discussed in the prior article. Auto insurance rates can change considerably in a year, so don’t be tentative to buy from a new company if a lower price can be found.
We understand brand loyalty, but it’s not recommended if that loyalty results in overpaying money that could be used for better things. Now is a great time to compare prices to find cheaper auto insurance for a Toyota Corolla.
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