Buying auto insurance is something that most of us do at some time in our lives, but many of us wonder whether we are really getting the best possible deal. The Consumer Federation of America, a consumer advocacy group, estimates that insurance is the fourth largest non-housing purchase we make in our lifetime. In Alaska, the average cost for car insurance is $937.72 (based on a 2003 study conducted by the Insurance Information Institute.
Before you shop you should know that auto insurance companies can use your credit history to rate and underwrite your policy. The car insurance company cannot just use your credit to generate a rate quote. Some of the other considerations an auto insurance company will use are age, driving record, type of car, how many miles you driver per year and where you live. However, these considerations vary by company.
To find out more about how car insurance companies use your credit history to determine your car insurance price check out the Alaska Division of Insurance’s website at http://www.dced.state.ak.us/insurance/.
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Are you paying too much for insurance?
Are you paying too much for insurance? Are you trying to find affordable insurance? To find out you should comparison-shop for Alaska automobile insurance. Have you tried InsuranceFinder.com to find a price for Alaska car insurance? If not what are you waiting for? InsuranceFinder.com is the easiest way to get an Alaska car insurance quote online. You just complete one quick form to receive multiple automobile insurance quotes from reputable insurance companies.
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Alaska Automobile Insurance Requirements
If you own or drive a car registered in Alaska you must have liability coverage with minimum limits of $50,000 per person for Bodily Injury, $100,000 per accident for Bodily Injury, and $25,000 per accident for Property Damage. Bodily Injury coverage pays for expenses such as medical costs, loss of income, and funeral costs of others who are injured or killed as the result of your carelessness. Property Damage pays for expenses to repair or replace the property of others, which is damaged as the result of your carelessness.
The state of Alaska also requires you to have a copy of your auto insurance policy or a certificate of self-insurance to prove you are covered. Should you be involved in an auto accident and don’t have proof of car insurance it could result in the suspension of driver’s license. Before your license can be reinstated, proof of financial responsibility must be supplied and reinstatement fees must be paid.
The Alaska Automobile Insurance Plan
If you can’t get automobile insurance from a car insurance company, you may be eligible for coverage under the Alaska Automobile Insurance Plan. The plan assigns applicants to private car insurance companies doing business in Alaska. For more information, call AIPSO at 1-800-227-4659.
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