Alaska Insurance Laws

  • 4 min read
  • Aug 01, 2021

Organization and Corporate Procedures Chapter 72. Use this page to navigate to all sections within Title 21.

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Awards cannot exceed the injured partys life expectancy in years multiplied by 8000 or 400000 whichever is greater.

Alaska insurance laws. 50000 for bodily injury or death per person injuredkilled in an accident caused by the driver of the vehicle. Current as of January 01 2020 Updated by FindLaw Staff. Minimum Required Insurance Coverage in Alaska.

Regulate the insurance industry to protect Alaskan consumers. 50000 for bodily injury or death per person. The Alaska Mandatory Liability Insurance Law.

Your liability insurance must include the following minimum coverage limits per accident. Rehabilitation and Liquidation Chapter 79. You may also opt to reject the coverage but must do so in writing.

The state portion deals with state-specific insurance laws rules regulations and practices. Alaska insurance fraud law considers most acts performed with the intent to injure defraud or deceive by any of the above parties as fraudulent insurance acts An insurance company can also violate the statute by overcharging premiums or failing to provide insurance that a policy holder paid for. Failure to carry insurance can result in a 500 fine license suspension and vehicle impoundment.

Expand sections by using the arrow icons. Alaska insurance laws are in place to protect you your assets and other drivers. Often times Alaskas Child Support Services Division will step in to help ensure support rulings are followed.

Property damage coverage is also required in the state of Alaska. Alaska law requires that insurers offer you the option to purchase uninsuredunderinsured motorist coverage in limits at least equal to the liability policy limits. 711 or 800 770-8973.

Alaska Minimum Business Insurance Requirements Commercial Liability Insurance is not mandatory for businesses operating in Alaska. Joint Insurance Arrangements Chapter 78. 1-800-INSURAK in-state outside Anchorage Fax.

The amount of property damage coverage needed is going to 25000 per the statute in the state. You will take one exam for each line of insurance you wish to carry. 550 W 7th AVE STE 1560.

Alaska Life and Health Insurance Guaranty Association Act. Trusteed Assets of Alien Insurers Repealed 115 ch 81 SLA 1997 Chapter 84. Alaska is a fault state with a pure comparative negligence system.

The State of Alaska prohibits automobile insurers from charging drivers more money for a policy based solely on a lapse in coverage. Benevolent Associations Chapter 75. Alaska Statutes Title 21.

The lines are titled. Alaska Insurance Guaranty Association Act. In Alaska Civil Rule 903 lays out the formulas used to calculate child support.

Alaska Statutes section 2822101 requires vehicle owners to have the following minimum amounts of liability car insurance coverage. Alaska Life and Health Insurance Guaranty Association Act. Alaska Insurance Requirements.

Adhering to these requirements keeps you legal and can give you the peace of mind that you wont be held personally liable for damages or injuries that you might cause. But 2Investigates found a major insurance company is quoting higher rates to military members in Alaska who had a break in coverage due to deployment. Reciprocal and Cooperative Insurers Chapter 76.

Alaska state law requires minimum Bodily Injury Liability limits of 50000 per injured person up to a total of 100000 per accident and Property Damage Liability coverage with a minimum limit of 25000. The Alaska Statue 2822101 states you must have a minimum of 50000 bodily injury coverage for one person and 100000 of coverage to cover injuries to multiple people in an accident. Surety Insurance Contracts Chapter 66.

Life Health LH and Property Casualty PC lines are not combined lines in Alaska so you will take one exam per line of authority that you wish to attain. Much of this is determined by figuring out the income of each parent. The general portion of Life Health Property Casualty consists of fifty 50 questions that count toward the score and ten 10 pretest questions that do not count toward the score.

The purpose of these laws is to protect the motoring public from uninsured drivers on Alaskas streets and highways. This is FindLaws hosted version of Alaska Statutes Title 21. In Alaska the mandatory liability insurance requirements include at least 50000 bodily injury per person 100000 bodily injury per accident and 25000 property damage per accident.

This basic coverage is often referred to as 5010025 coverage. Life Accident Health Property and Casualty. Title Insurance Companies Chapter 69.

You may opt to purchase additional coverage up to the allowable limits. Alaska has both Financial Responsibility and Mandatory Insurance laws. In order to comply with Alaska car insurance laws you must have liability insurance to help cover costs associated with injury or property damage to the other party in an accident you cause.

These laws allow the Division of Motor Vehicles DMV to remove financially irresponsible drivers from the roads.

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