Alaska Car Insurance (AK)

Virtually every car insurance policy has two categories of minimum liability insurance – liability meaning the costs incurred by the other party if you are at fault. As with pretty much every other state, Alaska requires every passenger vehicle registered in the state to have minimum amounts of insurance coverage.

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Alaska Insurance Requirements

The first category is for bodily injury. In Alaska, the minimum bodily injury requirements are $50,000 for any individual and $100,000 for bodily injury to all parties in the other vehicle.  The other category of liability is for property damage. Alaska requires a minimum of $25,000 in liability coverage for property damage to other vehicle(s), fences, buildings, etc.

Should you be involved in an accident and be at fault, this minimum coverage may meet Alaska’s statutory requirements but it does not meet your personal responsibility for the other party’s injuries and property loss.  Given the cost of medical care and auto repair today, most people find it prudent to carry coverage beyond the state minimums.

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Policies and Coverage in Alaska

Another widely used type of insurance coverage is for uninsured or underinsured motorists.  This coverage pays for your losses should you be involved with an uninsured or underinsured driver, or engaged in a hit-and-run accident.  The state of Alaska does not require motorists to purchase this type of coverage, but it does require every licensed insurance company in the state to offer it.  It is a sensible alternative to trying to personally collect on damages over and above the other party’s coverage.

Another addition to your car insurance policy that is not required by state law is personal damage coverage, which pays for damage to your car should you be the responsible party in an accident.  Other options include medical payments coverage, rental reimbursement and towing insurance.

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