Do I Have to Have Collision Car Insurance In Alaska?
Reader’s Question:
I haven’t purchased a car yet but I would most likely get it through a loan. Why is it that most lenders would require me to have collision coverage on my car ins here in Alaska?
Sasha
Anchorage, AK
There are two basic types of car ins here in the US; they are collision and liability insurance coverage. In almost all of the states, including Alaska, it is required for car owners to have liability coverage. It is not required for a car owner to have collision coverage; however, most lenders would require you to get collision coverage if you have not finished paying the loan on your vehicle.
Collision coverage is a type of car ins policy that would cover the damages to your vehicle if you get into an accident with another vehicle or property wherein you are at-fault. If you only have liability insurance, you would have to pay for the repairs on the car on your own and that could be costly on your part. For that reason, getting collision coverage for your car ins would be a wise idea for your lease car.
One other type of car ins coverage that may be required by lenders on your lease car would be comprehensive coverage. This would pay for the repairs on your vehicle is it gets damaged by natural causes such as flood, fire, storm; it also covers vandalism and theft. The premium payment for your collision and comprehensive coverage is influenced by the deductible that you will pay should you file a car ins claim.
Tags: car ins, car insurance, collision coverage, comprehensive coverage, liability coverage
SR22 Quote In Alaska
Reader’s Question:
Is the process for getting SR22 gonna be different from buying a regular car insurance? How can I find a cheap SR22 quote for my car insurance here in Alaska?
Joel
Anchorage, AK
The process for acquiring SR22 insurance is the same process used in acquiring regular car insurance. To find a cheap SR22 quote for your car insurance in Alaska, you would have to work your way and shop around. If you go online to get SR22 quote, you will see a lot of information about insurers that provide SR22 insurance. SR22 insurance is needed by high risk drivers; however, it is still car insurance. You have to be certain that you have the proper amount of coverage to effectively secure your assets. You have to check the policy guidelines thoroughly to be certain that you are familiar with the coverage and the restrictions of the policy.
Although you are considered as high risk, there is still a possibility that you can get cheap SR22 quote but you have to exert some time and effort. Getting cheap SR22 quote might not be a truthful target if you don’t want to look around because a lot of insurance companies ask for more payment from someone whose driver’s license has been suspended. But that does not indicate that you must not try to get the best SR22 quote for your car insurance. If you shop around, you’ll surely discover an insurer that can provide you the best premium on the proper amount of coverage for your SR22 quote.
Do I Need To Have Rental Car Insurance in Alaska?
Reader’s Question:
I have rental car coverage from my auto insurance but I really don’t know its restrictions. Would it still make sense if I buy some kind of waivers from a rental car company to replace my insurance coverage?
Mackenzie
Anchorage, AK
Seeming sensible from the coverage you receive from your auto insurance and the waivers that are sold by rental vehicle companies is not simple. Purchasing all of the coverage available from a rental vehicle company could amplify your rental fees. Purchasing nothing may place you in an awful financial situation in case of an accident.
In case you do not have comprehensive and collision coverage and you rent a vehicle, it would be a great plan to buy the loss damage waivers or collision damage waivers, any of which the rental vehicle company sells. Purchasing the waiver that will give you the widest coverage may be a good idea. Rental vehicle companies have a number of stages of damage waivers. For instance: you may not be liable for any damage; you are liable for damage over $500; you are liable for damage over $1,000.
You may completely turn down loss damage waivers in case you have comprehensive and collision insurance since you will pay for “double coverage.” However, keep in mind that you need to pay your deductible if the vehicle is stolen, damaged or if you crash the car.
Teen Auto Insurance in Alaska
Reader’s Question:
We decided to have a separate insurance for our teenage daughter once we buy her a car. Can we take her out already on our auto insurance policy here in Alaska? If she still uses our car and crashes it, will the insurer pay?
Adriel
Anchorage, AK
Once you have bought a new car and insurance for your daughter, it would still be a tough decision to make whether or not to exclude her on your auto insurance policy in Alaska if she is still using your car. You could opt to exclude her already in your auto insurance policy as you can decrease your premiums by doing this. This is going to be through a “named exclusion,” which means that your daughter will be excluded from protection under your auto insurance policy. However, doing this exclusion would require your daughter to have her own car and her own auto insurance policy.
Your daughter’s own car and auto insurance policy may not be a problem since you are already planning to do this. However, the problem may arise if your daughter still uses your car and gets into an accident. If she is already excluded in your auto insurance policy, your insurance company will not pay for any damages and injuries because she is an excluded driver. You may very well consult an insurance agent about this and check if it is allowed to have a named exclusion in your state.