Maintaining auto insurance coverage is a fact of life for Alaska residents who own vehicles and drive from time to time. Transportation can be a personal challenge in rural areas of the state when the weather is severe, but Anchorage is one area where local officials work diligently to keep the roadways passable.
When it comes to auto insurance, some Anchorage vehicle owners need only liability coverage while others will be responsible for full comprehensive and collision coverage and, possibly, uninsured/under-insured riders on their personal policy. Here are a few facts Alaskan drivers should know when deciding on insurance coverage.
State minimum requirements
All states set a level for minimum auto insurance coverage. Certain dynamics can influence the amount state legislators will choose with most being like the Alaska model. A minimum of $50,000 is required for bodily injury liability protection with a $100,000 cap per accident. The minimum amount for physical property damage is $25,000. However, it is important for all vehicle owners to remember when purchasing car insurance that they will also be responsible for any damages above the minimums in serious accident cases.
The Alaskan state government is not the only entity that may require a specific amount of insurance protection in the state. Many vehicle lending agencies that loan extensive amounts of money for a newer model vehicle will also require the purchaser to carry full coverage vehicle insurance protection as well as liability coverage required by the state.
Alaska is also one of the states that allow for “pure” comparative negligence when auto accidents are settled. What this means is that the comparative negligence percentage assigned to each driver will be used to discount the total amount of their claim damages. Even a driver who is 99% at fault for an accident can receive 1% of their total damage claim.