Cheap Alaska Life Insurance Company
Reader’s Question:
Will it result to a cheaper life insurance policy if I reduce my own level death benefit term policy than by decreasing mortgage term or credit life insurance policy? Should I split my insurance policies, or should I get only one to make it cheaper in Alaska?
Karl
Anchorage, AK
It’s a good thing you asked, Karl.
Definitely, yes reducing your level death benefit is a cheaper alternative for mortgage decreasing term or credit life insurance policy which are often expensive. You can buy a cheaper priced term level policy and reduce the coverage amount of your term policy on any policy anniversary and reduce your premiums according to the company’s guidelines. It can normally be done by using a policy change form. You may only decrease your coverage amount to the product’s minimum death benefit limit.
What is not a cheaper move for life insurance policy though is when you purchase more than one insurance policy from different companies in Alaska. If you do so, such as buying 2 smaller policies from 2 different companies, you will be paying 2 policy administration fees. Also, by doing this, you miss our on a volume discount that many companies offer for larger policy…similar to a quantity discount when you purchase a merchandise.
You might want to consider shopping for more cheaper options online by simply typing in your zip code on the space located on this page.
Alaska Young Drivers Car Insurance
Reader’s Question:
Will I save money if I include an Alaska young drivers car insurance in my policy? My wife and I just bought our son a car and he told us that including his name on our insurance policy will lower his premiums. Is this true?
John
Juneau, AK
Since your son is not included in your policy yet, I’m assuming that he’s a new driver who needs an Alaska young drivers car insurance. If he’s still living with you guys, you can include him in your policy. Although it would surely increase your car insurance premiums, it would be cheaper than your son gets a separate young drivers car insurance policy. But there are ways to make sure your premiums are optimized to have a low price. Just follow the tips below.
1. Make your son help pay for the car insurance premiums. Maybe he won’t be able to give much, but still, you’ll pay less than what you have to pay for
2. Tell your son to keep his driving record flawless. It will lessen your premiums in the long run.
3. Installing car safety devices such as airbags, an anti-lock braking system, shatter-proof windshield, and seatbelts can also lower you premium rates.
4. If your son is still in school, ask your current car insurance company if they offer good student car insurance discounts. If they do, tell your son to get those straight A’s to lessen your premiums.
5. Not satisfied with your current car insurance policy and company? Find a new car insurance policy by comparing quotes using car insurance comparison websites such as this blog. It’s fast, secure and free!
5 Tips for New Car Insurance Buyers
Reader’s Question:
I just got a car from my dad and I want to buy car insurance for it. This is my first time to buy car insurance though. Any tips to help me out?
Nadir
Anchorage, AK
Buying the right kind of car insurance can seem like a daunting task, especially for new car insurance buyers like you. However, the following tips should make it easier to get car insurance coverage that is both affordable and reliable:
1. Know Your State Requirements – Visit your state’s Department of Insurance website (Google it) first before purchasing a policy. Most states have minimum coverage requirements that you have to meet and this website will be a good start to finding out about these requirements.
2. Compare Rates Online – You want to know the latest rates available so go online and use insurance comparison websites (like this one) and get a free quote check. This allows you compare offers coming from many different providers simultaneously, therefore maximizing your chances of finding the cheapest rates.
3. Pick the Best Company – Independent rating agencies like A.M. Best and J.D. Power rates the performance of many different companies. Their website publishes this kind of information for free. Using this information can help you pick the best-overall providers to go to.
4. Get a Policy that Suits YOU – If you drive an old clunker avoid purchasing too much comprehensive coverage since it’s not cost-effective. Study your policy carefully and keep an eye out for coverage you may already be getting somewhere else.
5. Look for Discounts – Discounts are a plenty and there’s a good chance you’ll qualify for at least one. Always ask prospective insurers about discount options and how to be eligible for them.
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