At BuyCarInsurance.com we are here to help navigate buying car insurance in Alaska. Being the last frontier, there are many caveats to car insurance. We have compiled this guide that lists everything you need to know so that you can easily get the car insurance plan that fits your personal needs - at the lowest rate.
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Alaska is a unique state all on its own, so it isn’t surprising the insurance laws and minimum requirements would be anything different. The minimum requirement for car insurance in Alaska is 50/100/25:
|Bodily Injury Liability Coverage||$50,000 per person and $100,000 per accident.|
|Property Damage Liability Coverage||$25,000 per accident.|
These minimums are some of the highest in our country. The other fun fact about Alaska state minimum requirements; Not every city in the state has to meet these requirements. The required cities change so it is important to know if your city minimum requirements change. This information can be found at the Division of Motor Vehicles.
Do I Need More Than The Minimum Coverage?
This is a tricky question in regards to Alaska because car insurance requirements are different for certain areas. Alaska has some of the highest minimum insurance requirements in the country, but those minimums are bodily injury liability and property damage liability which provides coverage to the opposing party, but not you or your vehicle. We would suggest adding additional coverages to make sure you are covered under any circumstance.
Alaska Additional Coverage Options
Adding additional coverage to the state required minimum car insurance is a great idea. We always suggest getting the most coverage you can afford. You want to meet Alaska’s minimum requirements, but also protect yourself in the event of an accident. Here are some additional coverage options:
Comprehensive Coverage- Comprehensive insurance covers you for other situations than a car accident; if you hit an animal, vandalism, fire, hail, flooding, or of your car is stolen.
Collision Coverage- Collision insurance will cover repairs to your vehicle in an accident you are at fault for.
Uninsured/Underinsured Motorists- Optional coverage that protects you if you are involved in an accident with a driver who has no insurance or too little insurance to cover the accident.
Gap Insurance- Optional coverage that will pay if you don’t own your car outright and have an accident. Gap insurance will pay the difference between the cash value of your car and the current balance on your loan or lease. This policy is best for newer non-owned cars.
Medical Coverage- Optional coverage that will pay for medical bills when health insurance exceeds coverage amounts and covers medical expenses for you and your passengers. Do you walk or bike? This policy offers additional coverage if you are struck by a car in those instances.
Alaskan Teen Drivers
In Alaska, teens can begin driving with a learners permit at the age of 14. There are many more stages to the process of getting a non-restricted license. However, during this process, your teen is required to have the same car insurance minimums as any other adult driver in Alaska. So this means your teen needs to be added to your policy as soon as they begin this process.
Adding a teen to your insurance policy is not cheap. Teens are considered high-risk drivers due to their lack of experience and this is why their premiums are so high. Adding a teen as a primary driver, someone who has their own vehicle is typically more than if they are added as an additional driver sharing a vehicle with someone on the policy.
Adding additional drivers to your policy is important if you have multiple drivers in your household. If you do not disclose all known drivers in the household, regardless if they have insurance on their own or not, to your insurance company this could result in back premiums, the insurance not covering an accident, or the car insurance company could choose not to insure you anymore. If there are drivers in your household you want to exclude from your car insurance policy you must tell your agent. However, if they are driving your vehicle, the company will not cover any damages or fees.
Penalties for Driving Without Car Insurance in Alaska
Even though Alaska does not require every city to carry car insurance as a minimum requirement, this does not exclude penalties for the cities that do. If you are living in an area in Alaska that requires car insurance as a state mandate, you will be penalized if you are not in compliance. Here is a list of penalties:
First offense: You will pay a fine up to $500 fine and your license will be suspended.
Second and subsequent offenses: You will pay a $500 fine. Your license will be suspended for a longer amount of time than the first offense.
Car Insurance Savings
Just like the lower 48 states, car insurance savings are available in Alaska. Here is a list if common discounts for car insurance in Alaska:
Good Student- If you are a student enrolled in high school or college curriculum and maintaining a B average most companies offer a discount.
Good Driver- Maintain a good driving record free of tickets, accidents, or any moving violations.
Multiple Policy- Most insurance companies will offer a discount for having multiple policies such as car insurance, renters insurance, homeowners insurance, or motorcycle insurance.
Quick Car Insurance Quotes in Alaska
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