Accident Auto Insurance: Alaska

All 50 states in the U.S. require some form of auto insurance (also called accident auto insurance, motor insurance, or vehicle insurance), but different states have different minimum requirements and different penalties for failing to provide the minimum auto insurance coverage. It is important that you know your state's auto insurance minimum requirements and your options above and beyond what the state requires.

Types of auto insurance coverage:

Liability
In the event of an auto accident, liability auto insurance pays for bodily injuries as well as property damages to the other (injured) party or parties. Included in bodily injuries are the medical expenses, compensation for pain and suffering, in addition to compensation for lost wages due to the accident. Included in property damages are both damages to the other vehicle in the auto accident as well as damages to any other property involved. Liability auto insurance also pays for court costs and defense attorney costs.
Collision
In the event of an auto accident (between your car and either another car or an object), collision auto insurance pays for damages to your vehicle caused by the incident.

Comprehensive
In an event other than an auto accident, such as flood, wind, fire, hail, theft, vandalism, comprehensive auto insurance pays for loss or damages to your insured vehicle.

Medical Coverage
In the event of an auto accident, regardless of who is at fault, medical coverage auto insurance pays for the medical expenses.
PIP (Personal Injury Protection)
In the event of an auto accident, regardless of who is at fault, PIP auto insurance pays for your (as the injured party) medical expenses incurred from the accident.

Uninsured Motorist
In the event of an auto accident with an uninsured motorist, uninsured motorist auto insurance pays for your insured car's damages from the accident.
Underinsured Motorist
In the event of an auto accident, underinsured motorist auto insurance pays for your insured car's damages when the other motorist has insufficient liability insurance to pay for the damages from the accident. Rental Reimbursement
In the event of an auto accident, rental reimbursement auto insurance pays for a rental car due to the damages of your insured car (usually with a daily price limit).

Alaska Law Minimum Requirements for Accident Auto Insurance
Liability Insurance: $50,000 for one person's injuries or death in an accident; $100,000 for all persons' injuries or deaths in an accident; $25,000 for property damages in an accident. Insurance policy must be obtained by a ligitimate auto insurance provider recognized by Alaska.

Alaska's Proof of Auto Insurance
In the event of an auto accident causing any personal injury, death, or property damage over $500, proof of insurance must be shown by all involved parties, no matter who was at fault. Acceptable proof of insurance is Alaska's Certificate of Insurance, available from the DMV. All drivers are also required to show proof of insurance whenever a law officer requests to see it as well as whenever the vehicle is obtaining or renewing registration.
Alaska Law Auto Insurance Penalties
In the event of an auto accident, and you do not have current valid auto insurance, your driver's license will be suspended automatically for a minumum of 90 days and a maximum of one year, depending on your recorded driving history. Drivers who have had license suspensions or revocations, may require an SR-22 auto insurance policy (liability auto insurance with an additional responsibility from the insurance company). In this case, the insurance company is required to notify the Alaska DMV immediately if the driver is without current valid auto insurance - if the policy lapses, is cancelled, or terminated.

As always it is important to shop around for auto insurance quotes, as rates can vary greatly between companies. Also, when you get auto insurance quotes, be sure to ask about special discounts which are often given based on age, marrital status, location, etc.