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Alaska Auto Insurance

alaska auto insurance rates

The state of Alaska requires motorists to have auto insurance.   The penalty for not having adequate insurance may be a suspension of driver’s license.This guarantees protection for victims of collisions and their property.

Alaska Auto Insurance Minimums

To comply with Alaska insurance laws, your liability insurance must meet the following minimums:

  • $50,000 for bodily injury or death per person
  • $100,000 for total bodily injury when multiple people are hurt
  • $25,000 for property damage

Alaska Insurance Exemptions

Drivers living in areas that do not require car registration also do not face the insurance requirement.  Check your local laws to see if you meet this exemption.

Alaska Automobile Insurance Plan

Alaska offers the Alaska Automobile Insurance Plan (AAIP) for drivers who do not qualify for traditional insurance on the marketplace.  This plan is for high-risk drivers. The risk for these drivers is shared across all insurance carriers, and thus, the plan is more expensive than a standard plan. It is considered a last resort rather than a way to avoid paying for traditional insurance.

Optional Alaska Auto Insurance

Many Alaska drivers choose to buy coverage exceeding the minimums.  This proves as a true safeguard in the event of a costly calamity.  Here are some options for Alaska drivers:

  • Collision – For accident-related damages to your car
  • Comprehensive – For any damages to your car that are out of your control, such as weather-related damages
  • Uninsured/Underinsured drivers – For damage to a vehicle in the event of a collision with an uninsured driver. Insurance against these illegal drivers covers all applicable damages.

Alaska Proof of Insurance

The state of Alaska requires drivers to be able to present proof of insurance at all times.  Insurance companies issue small ID cards for their customers.

Alaska Insurance Premium Factors

To determine your insurance premiums, insurance companies will look at the following factors:

  • Driving record – this will have the largest impact on your premium
  • Your age, marital status, and gender
  • You car’s year, make, and model
  • Your credit history

Reporting Fraud

One factor that raises insurance rates for all drivers is insurance fraud.  The losses taken by companies due to this crime are then passed on to the consumer. Citizens may report auto insurance fraud by calling (907) 269-7900. Auto insurance fraud can include:

  • Arranging fraudulent car theft and issuing a false claim
  • Arranging phony auto collisions
  • Falsifying bodily or property damages

Most Stolen Cars in Alaska

Your premiums will be affected if your car is commonly targeted by car thieves. The following makes and models are more likely to be targeted in Alaska:

  1. Chevrolet Pickup (Full Size)
  2. Ford Pickup (Full Size)
  3. Dodge Pickup (Full Size)
  4. Honda Accord
  5. Ford Explorer