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Alaska Auto Insurance
In most regions of Alaska, auto insurance is mandatory, but there are certain remote areas where vehicle registration and, therefore, insurance are not mandatory. When driving in most regions of Alaska, insurance laws require that each driver have proof of insurance on their person while operating a vehicle. In this way, Alaska auto insurance is unique from other states.
Alaska is what is know as a tort state, meaning that drivers must have at least liability insurance to cover medical and property expenses in the event of an accident. Of course this is only mandatory in select regions.
Alaska Auto Insurance Requirements
Alaska auto insurance has a mandatory limit of 50/100/25, meaning that drivers must purchase $50,000 for personal injury to another driver, $100,000 for all drivers involved in an accident, and $25,000 for property damage done to another vehicle. With these minimum requirements, Alaska has the highest mandatory rate in the country.
For Alaskan drivers, uninsured motorist bodily injury coverage is not mandatory, but it is advisable as the cost of a hit and run or accident with someone without insurance can be costly.
Rates for Alaska Auto Insurance
Alaska auto insurance is expensive, primarily because of the high liability requirements. It ranked 10th overall on insurance spending in the country in a recent survey. Alaska residents spent on average $582.22 on liability insurance coverage, $373.16 on collision insurance, and $154.50 on comprehensive insurance. For the total average expenditure, Alaska residents spent $937.72 for a single year.
Auto insurance rates in Alaska are determined by the entire insured population. When evaluating the cost, insurance companies determine the cost of insuring the entire state. Then, they factor in age, location, and make and model of the vehicle for determining the premium rates. Alaskan residents purchasing auto insurance can receive reduced rates for things like a good driving record, a “safe” vehicle, and even good grades for student drivers.
There are fewer auto insurance carriers who offer coverage in Alaska than in most other states, but there are still many top-rated, reputable choices for consumers.
More Information on Alaska Auto Insurance
To get more information on Alaska auto insurance rates and laws, contact the Alaska Division of Insurance at:
Alaska Division of Insurance
9th Floor State Office Bldg.
333 Willoughby Avenue 99801
PO Box 110805
Juneau, Alaska 99811-0805
Phone: (907) 465-2515
Fax: (907) 465-3422
For other Alaska Insurance Resources, See:
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