Alaska Car Insurance Rates
In Alaska, many regulations are common with the other states regarding car insurance options. Alaska requires that before you drive on the state roads, you must be able to provide clear evidence that you have the financial means to meet your responsibilities in the event that you may have an accident. There are some areas of Alaska that do not require you to meet these requirements, including but not limited to, Port Charles, Sand Point, Squaw Harbor and at least another 40 locations.
How to work with financial responsibility
Should the area you live in Alaska need you to have financial responsibility, you will need to make sure that you have adequate cover. You will need to make sure that you do the following; post a bond of the amount that is determined by the DMV, source a self insurance policy that will cover any claim against you, and then buy the appropriate auto insurance to cover your general requirements.
You may prefer to opt to post a bond, this is an amount that will start from $10,000 upwards and this can cover you for a whole range of self insurance situations that you might find yourself in. Check with your nearest DMV office to understand your options.
What are the Alaska liability insurance requirements for private passenger vehicles?
As a standard, you will need to make sure that your auto insurance policy will cover that each person involved in any accident can have access of up to $50,000 of damages. Any bodily injury limit for payout will be capped up to $100,000 per accident; property damage cover will need to be able to cover a minimum of $25,000 in order to comply with the law.
Take time to find out the various different auto insurance policies that are available and see if they might work for you. Try to find out the costs of the policy in question and how much benefit it gives you. You will be able to check out different rates that the insurance companies will charge online and from the comfort of your own home. You can find information from Alaska Premium Comparisons in the Automobile Insurance Guide; this uses a series of cost comparison scenarios to work out how much you can expect to pay. You will need to understand that the quotes you will receive will be determined by your driving history, your credit rating score, the type of car you drive and even where you live.
What happens next after buying your car insurance?
Having bought your car insurance, the insurer will send you an auto insurance member ID card that contains your name, the information about your car, as well as the information about your insurance policy. Should you have an accident where the estimated damages are greater than $501, you will need to produce this insurance card to avoid risking criminal charges.
This information will also be required should you be subject to a routine police check. As you can understand, it makes sense and is important to keep this card on your person at all times when you are driving to avoid any unexpected problems.
What happens if you fail to maintain financial responsibility?
The penalties for driving without proof of insurance can lead you to into big trouble and can actually lead to your license being suspended. Should this happen, you will only be able to get it back by paying a whole series of fines and show that you really have insurance even though you were forgetful and left the documentation behind.
Should the grim truth be that you do not actually have insurance cover and get involved in an accident, you will have to find an insurance company and complete their SR-22 form and present this with the DMV forms in order to move forward. This proof of your financial responsibility will need to be maintained for a minimum of 3 years in order not to involve further fines and potential imprisonment.
Make sure that you keep yourself informed and up to date with the Alaska state auto insurance requirements as terms and conditions can change and you need to make sure that you are informed and up to date with adequate and relevant insurance.