What The Law Demands In Alaska And Paying Less For A Lot More
You can easily get affordable quotes. This article will help you do just that. However, it's very important that you know what the State's minimum requirements are and what to do in your own best interest. Here we go...
Alaska state law requires the following...
1) Bodily Injury Liability limits -- Minimum of $50,000 per injured person and up to a total of $100,000 per accident.
2) Property Damage Liability coverage -- Minimum of $25,000. This basic coverage is often referred to as 50/100/25 coverage.
In Alaska, it's the person who is found to be at fault for an accident that is responsible for all damages. That is, their insurance company would have to bear the cost (This is known as the Tort system).
However, there is a problem with this. Your insurer will only give you as much coverage as you bought. So what if you are at fault in an accident that results in huge damages?
There's one way to protect yourself against this and still keep your rates low. Get the minimum required by law unless you need comprehensive coverage and any other that may make sense in your peculiar situation. In addition to this, buy an umbrella policy...
The logic behind this advice is that no matter how extensive the liability coverage you buy with your Alaska auto insurance you could still easily be in deep trouble if you at fault in an accident that injures people badly. This means that your personal assets will be liable if your liability coverage cannot handle the result bills and damages incurred.
But if you have an umbrella policy, you're almost certain that it can handle the most extreme case. Furthermore, you not only save on auto insurance but you also have coverage that takes care of every other kind of liability issue that may arise in your life.
If you compare the extent of coverage you get for similar amounts in premium, an umbrella policy simply knocks a bodily injury liability off...
It could cost 35 year old man in an area like New York City about around $300 extra to raise his bodily injury liability from $25,000/$50,000 to $100,000/$300,000.
However, with an umbrella policy, he'll spend less than that to get $1 million worth of coverage. Furthermore, he could make it $2 million by just paying only about $75 more.
After the $2 million mark, he'll only need to add $50 to his rate per $1 million extra coverage amount. Do the math in your own case and see if it doesn't pay you a lot more!
Now while you do this don't forget that the following will help you get more affordable Alaska auto insurance quotes...
1. Always drive responsibly. Avoid those speeding tickets. They add up negatively.
2. Maintain an excellent credit rating.
3. Drive cars that have a high safety rating.
4. If you have more than one vehicle, insure them both with the same insurer. This will earn you the multi-vehicle discount.
5. Take advantage of a multi-policy discount. This is for those who buy more than one policy from the same insurer. Ex: Buying auto insurance from the same company that provides your home insurance.
6. Drop comprehensive coverage for an old car. It does you no good unless it is a classic.
7. Get and compare quotes from five or more reputable companies. This will take you just a few minutes but could easily save you hundreds of premium dollars.
Start getting and comparing quotes. The box below is a good place to start. It's free and will take you just a few minutes...