Alaska requires car owners to insure their registered cars. This is to guarantee that you will be safe if your car gets involved in an accident. This article will give you more insights about Alaska car insurance requirements, insurance issues, insurance companies, rates and other useful information related to car insurance.
Alaska Car Insurance Requirements
The state of Alaska requires you to comply with Alaska car insurance laws. First, liability insurance cover is mandatory. This insurance cover will help you cover the costs associated with property damage or injury resulting from accidents you cause. The minimum requirements for Alaska liability car insurance include:
- $50,000 for death or body injury per person
- $100,000 for total deaths or bodily injuries involving multiple accident victims
- $25,000 for property damage.
Optional Car Insurance
Liability car insurance may not give you enough financial protection if you cause an accident. You need additional Alaska car insurance covers. Liability will only cover the costs of property damage and injury made to other people. What about your own cover? This is where optional insurance covers come in. These are some of the optional insurance covers to consider after purchasing a liability insurance.
- Collision – Insurance cover that helps pay for damages made to your car after an accident
- Comprehensive – Insurance cover that pays for damages resulting from all accident related events such as fire, floods etc
- Uninsured motorists – Covers the cost of damage caused by uninsured drivers
- Underinsured motorists – Covers drivers with inadequate insurance cover
- Medical payments – This will cover medical costs if you are injured in an accident.
NOTE: Comprehensive and collision insurance are not mandatory in Alaska, but your car financing institution often requires drivers to purchase them.
Proof of Insurance
Alaska requires you to carry proof of Alaska car insurance wherever you step into the car. This is a form of insurance ID which is issued by your car insurance company whenever you purchase or renew your insurance cover.
If you are found driving without car insurance in Alaska, your driver’s license can be suspended. If you violate your car insurance and your driver’s license is suspended, you need to file SR-22 insurance to get it reinstated. You can file your SR-22 through your car insurance carrier. Sometimes purchasing SR-22 may increase your car insurance premium rates.
Alaska Automobile Insurance Plan
If you are considered a high risk driver, you may find it hard to get a company to insure your car. But good news is; you can insure your car through Automobile Insurance Plan in Alaska. These associations share the risk associated with damages and injuries caused by high risk drivers. Car insurance through the plan is more expensive than that offered by open market insurance companies.
Other Car Insurance Issues
The Division of Insurance in Alaska is the body that is responsible for solving consumers’ car insurance complaints and fraud. If you have a dispute with your Alaska car insurance company, you can launch your complaint through this body and get the dispute resolved. You can either file your dispute online through this body’s website or by sending a dispute complaint for using the mailing address below: Division of Insurance Consumer Services Section 550 West 7th Avenue Suite 1560 Anchorage, AK 99501
Many car insurance companies in Alaska lose a significant amount of money through fraud. The burden caused by these frauds trickle down to consumers. This leads to increased car insurance premiums. Some of the car insurance frauds include:
- Staging car accidents
- Lying about property damage
- Lying about injuries
- Overcharging medical costs by medical care professionals.
You should report any suspected car insurance fraud to the Division of Insurance through online or hotline (800) 867-8725.
Determining Car Insurance Rates
These are some of the factors that many companies use to determine your Alaska car insurance premium:
- Your driving record
- The make and model of your car
- Your car insurance claim history
- Your gender
- Your age
- Your marital status
- Your credit history.
AK Car Insurance Discounts
You can safe on your Alaska car insurance by taking advantage of many discounts offered by most car insurance companies in this state. These discounts include:
- Good driver discounts
- Good student discounts
- Anti-theft device discounts
- Multi-car discounts
- Discounts for homeowner’s or people with parking space.
Discounts can be a good way of getting cheap insurance rates, the best way is through keeping a clean driving history.
Most Cars Stolen in Alaska
If your car is a always a candidate for theft, you are more likely to pay higher car insurance rates. This is the 2013 list of the most stolen cars in Alaska according to www.nicb.org
- Chevrolet Pickup (Full Size)
- Dodge Pickup (Full Size)
- Ford Pickup (Full Size)
- Ford Explorer and Honda Accord
- GMC Pickup (Full Size)
- Ford Taurus and Honda Civic
- Ford Pickup (Small Size)
- Jeep Cherokee/Grand Cherokee.