Budget Auto Insurance: How To Find One?
Reader’s Question:
I am having some kinds of financial problems right now so I need to cut down on my expenses. I know I’m paying a lot for my Alaska auto insurance so I must cut down my insurance expenses too. How can I do it?
Leslie
Juneau, AK
I’m sorry to hear that Leslie. I’m hoping tomorrow’s gonna be a brighter day for all of us.
Going back to your question, here are some ways you can try to cut down your auto insurance premiums:
- Check online and get multiple auto insurance quotes. It’s time to do some shopping to possibly get lower insurance rates.
- Remove auto insurance coverages that you do not necessarily need. Like for example, if the automobile you are using has low value, you could save more if you opt to remove comprehensive and collision coverage on that automobile.
- Increase your deductibles.
- If you are a student, get good grades. This could give you better auto insurance rates.
- Take note of the other factors that affect auto insurance like:
* your location, the safer the better;
* type of car, use low risk car;
* car usage, the lesser the lower your auto insurance rates and;
* your age, if less than 25 years old you’ll probably get higher auto insurance rates.
For more information on how you can cut down your auto insurance rates, check with your insurance agent.
Low Cost Auto Insurance In Alaska
pstrongReaders Question:/strong/p
pIts my first time to buy auto insurance. Where can I find low cost ones in Alaska?/p
pRandy/p
pJuneau AK/p
pSearching for auto insurance that best suits your needs can be a very costly one if you end up getting insurance coverage that you dont really need. If this is your first time to purchase auto insurance in Alaska, there are some steps you can take to ensure that youre not wasting time or money when trying to find one./p
pFirst of all, in getting auto insurance in Alaska, know that it is mandatory for you to get at least the minimum required liability coverage. In Alaska, the minimum liability limits are $50000 for Bodily Injury Liability for every injured person, $100000 for every accident and $25000 for the Property Damage Liability. Of course, if you want your insurance company to cover more than the minimum, you can always opt to set your limits to a higher amount./p
pTake down some important notes about your driving profile and your cars profile. Check your driving record. Do you have a clean one or have you gotten quite a lot of tickets in the past? How old are you? How much are you willing to pay or are you capable of paying for insurance? How often will you be driving your car? Do you drive your car for long distances? Do a lot of crimes happen in your neighborhood? Is your car a new, expensive one or an old clunker that looks like its about to go anytime soon? What do you want the insurance company to pay for if there is ever any accident?/p
pWhen youve finally gotten your answers to these questions, you can do some quick searching on the internet for the different types of coverage you can get. Some of these are Liability, Personal Injury Protection, Medical Coverage, Collision, Comprehensive, Uninsured Motorist and Underinsured Motorist./p
pKnowing the coverage you need saves you from spending extra amounts on those that arent really applicable to your situation. There is no point in spending additional insurance for a car whose current value may be less than the amount youll be paying./p
Auto Insurance In Alaska
pstrongReaders Question:/strong/p
pMy boyfriend will be insuring his auto soon. What important information can you tell us about auto insurance in Alaska?/p
pBeth/p
pAnchorage, AK/p
pIn most cases, liability coverage is the only type of auto insurance that is required in the state of Alaska. To be specific, the auto insurance in Alaska requires the minimum liability coverage of:/p
ul
li$50,000 for every person for Bodily Injury;/li
li$100,000 for every accident for Bodily Injury;/li
li$25,000 for every accident for Property Damage./li/ul
pMeanwhile, according to Alaska Statute 28.22.019, whenever you operate your vehicle you must present a document providing proof that you have the required auto insurance coverage here. Also, if you get involved in an accident that resulted to other people or properties damage of more than $501, you will be required to show proof of auto insurance. Failure to do this could result to suspension of your driving privileges and to have your licenses reinstated you must provide proof of financial responsibility in the form of SR22./p
pOn the other hand, if you are wondering on how you can save on your auto insurance in Alaska, you may want to check these discounts:/p
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liMultiple Vehicle Discount: Majority of auto insurance carriers offer this kind of discount if you will be insuring more than one vehicle. According to statistics, families who have more than one vehicle insured under the same auto insurance provider have better than average claims experience/li
liDrivers Education Program: Discounts offered for this are targeted mainly for younger and mature drivers. If you have enrolled in such course, you may get a discount from your auto insurance provider./li/ul
Finding Affordable Insurance For DUI In Alaska
pstrongReaders Question:/strong/p
pI got charged of drunk driving here in Alaska, what are the things that I should expect after this?/p
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Tyler/p
pAnchorage, AK/p
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Motorists in Alaska who gets convicted of a DUI or Driving Under the Influence would find this kind of driving offense very serious, and very costly as well. Not surprisingly, as drunk driving accidents still remains as one of the countrys biggest problems to date. If convicted, you can expect to pay heavy penalties. And before you are allowed to drive again, auto insurance for DUI is a must./p
pFirst, some important information about DUI penalties in Alaska: For the first DUI offense a fine of $1,500, 3 days in jail, license suspension for 90 days. Second offense: $3,000 fine, 20 days incarceration, and one-year license suspension. 3rd offense: $4,000 fine, 60 days in prison, and license revocation for the next three years. 4th offense: $5,000 fine, 120 days in prison, 5-year license revocation. 5th offense: $6,000 fine, 240-day prison sentence, 5-year license suspension. Any further offenses face $7,000 in fines, five-year license suspension, and 360 days in jail./p
pGetting the most affordable auto insurance for DUI is a must after completing your DUI sentence. Driving around without one is a big mistake for someone who has a DUI history. Not only are you exposing yourself and others to a big financial risk during an auto accident, you also risk getting your premiums significantly higher (among other things) if you are caught./p
pThese days, with the benefit of having an Internet connection, anyone can now find an affordable insurance for DUI policy in Alaska. With the many dedicated online auto and DUI insurance specialists and providers on the Web, access to the latest auto insurance rates and offers is now easier than ever./p
pWith just a few minutes of your time, and a little bit of effort to compare offers coming from the many different DUI insurance providers today, you can save hundreds, even more, a year with the right kind of insurance for DUI backing you up while you get your life back on the road./p
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Essential Ways To Compare Life Insurance Coverage
pstrongReaders Question:/strong/p
pHow can you compare life insurance policies effectively? I want to know if the policy Im being offered here in Alaska is any good, thanks!/p
pbr /
Michel/p
pAnchorage, AK/p
pbr /
God question! Being able to compare life insurance policies effectively is vital and can save you hundreds of dollars a year on your life insurance coverage costs. Here are some tips to help you out:/p
pKnow What Kind Of Coverage Fits You/p
pIt would be an utter waste of time to compare the wrong kind of life insurance policies. So you must understand what kind of coverage best fits your needs. There is term life insurance, which is the simplest and cheapest type of policy available and is best for people only needing coverage for a certain period of time (while raising a family, paying mortgage, etc.). Whole life policies are good for those who prefer a tax-deferred, interest earning coverage that accumulates a portion of their premium into a cash-value while maintaining permanent coverage/p
pGet The Latest Rates/p
pOnline life insurance portals and websites can give you free and instant access to the latest rates in the market. This helps identify the providers that can give you the most coverage or face value amount out of your money. You can easily find out if the policy youre being offered there in Alaska is competitive, and instantly find out who is, otherwise./p
pIndependent Rating Entities/p
pAnother great way to find out if the policy, and the company, offering you coverage is any good is to find out their track record. Moodys, J.D Powers, and A.M Best are just some of the best names when it comes to consumer rating groups. You can get information about the insurers financial stability, customer service, pricing and competitiveness, and claims handling which are all vital indication of how good a providers product and services are./p
pRead And Understand The Fine Print Carefully/p
pAn insurer that takes great care in presenting their offers in a manner that is easiest to understand is more likely to offer good policies. Take time to understand the policy and see if it is something that youll see fitting your dependents needs and circumstances should you suddenly pass away./p
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Alaska Young Drivers Car Insurance
Reader’s Question:
Will I save money if I include an Alaska young drivers car insurance in my policy? My wife and I just bought our son a car and he told us that including his name on our insurance policy will lower his premiums. Is this true?
John
Juneau, AK
Since your son is not included in your policy yet, I’m assuming that he’s a new driver who needs an Alaska young drivers car insurance. If he’s still living with you guys, you can include him in your policy. Although it would surely increase your car insurance premiums, it would be cheaper than your son gets a separate young drivers car insurance policy. But there are ways to make sure your premiums are optimized to have a low price. Just follow the tips below.
1. Make your son help pay for the car insurance premiums. Maybe he won’t be able to give much, but still, you’ll pay less than what you have to pay for
2. Tell your son to keep his driving record flawless. It will lessen your premiums in the long run.
3. Installing car safety devices such as airbags, an anti-lock braking system, shatter-proof windshield, and seatbelts can also lower you premium rates.
4. If your son is still in school, ask your current car insurance company if they offer good student car insurance discounts. If they do, tell your son to get those straight A’s to lessen your premiums.
5. Not satisfied with your current car insurance policy and company? Find a new car insurance policy by comparing quotes using car insurance comparison websites such as this blog. It’s fast, secure and free!
COBRA Continuation Health Coverage Alaska AK
Reader’s Question:
How exactly can COBRA help me secure health insurance coverage in Alaska? I don’t exactly understand what it’s for.
John
Anchorage, AK
Paying for individual health insurance coverage generally ends up being more expensive than getting one by groups. So, the premiums for job-based health insurance policies are lower than those of individual health insurance plans. If you have just retired or resigned from your job in Alaska, getting your own health insurance coverage could be a problem. The basic idea of COBRA or Consolidated Omnibus Budget Reconciliation Act is for former employees to get coverage continuously at group rates, which — prior to the enactment of this — would already have been terminated. At least temporarily, former employees, retirees and their families can continue to enjoy health insurance coverage at cheaper rates. Even though at this point, the employer will no longer share the expense, the fact that you are being charged group rates is still an advantage. Of course, not everybody is entitled to this. If your employment has been terminated due to gross misconduct, you are disqualified from availing yourself of continued health insurance coverage. So, be sure to enroll at your employer’s health insurance plan while you are still in active service. This applies to any company with 20 or more employees. I truly hope this helps. Try to ask your employer now for clarification.
Tags: Health Care, health insurance, insurance, insurance advice
Whole Life Insurance of Newborn Alaska AK
Reader’s Question:
Recently, my wife gave birth to a son here in Alaska. Can I get my son a life insurance policy even if he’s just newly born?
Randy
Anchorage, AK
Randy, the answer is–Who’s stopping you to get your son a life insurance policy? At age 0, your son will get the cheapest life insurance rate any person can get. Not only that, let’s say you got him a 10-years-to-pay whole life insurance plan, by the time he reaches 10 years of age, you already have paid in full your son’s policy.
For newly born babies, we usually suggest whole life insurance policies that have cash value built up features, so by the time he’s 20 or 25 or 30 years old, he already has accumulated a fortune. These figures we’re talking about is substantial enough that he can pay for his college tuition, assuming you did not borrow against the policy and missed a premium payment at any given time during the payment period. Imagine, your son will be able to afford studying at Harvard or Yale or any expensive Ivy League school because you had made arrangements early on.
But remember, Randy, should your son get the money, the accumulated benefits of the whole life policy will be considered paid, and the contract between contracting parties will end as the policy, in effect, is surrendered. To all the daddies like you in Alaska, my hat’s off to you.
Tags: life insurance, life insurance policy, whole life insurance
Life Insurance As Financial Protection Alaska AK
Reader’s Question:
What kind of life insurance policy here in Alaska should I look for if I want to be covered until I’m done paying for my house and done sending the kids to school?
Helena
Anchorage, AK
The best type of life insurance policy for your question would be a term life insurance policy. Term life insurance is a kind of temporary life insurance coverage that can provide you with a very high “Face Value” (which is the total monetary value included under your policy for death benefits) for very low or cheap life insurance premiums.
Term life insurance is good for those who are only looking into getting life insurance coverage for themselves (and effectively their income-generating capability) while attending to long term financial obligations such as raising a family, or in your case, paying house mortgage there in Alaska and paying for your kids tuition and other future expenses.
You have the option to get life insurance coverage for five, ten, twenty, even thirty years (depending on what is being offered) and there will be some providers who can give you a guaranteed renewable term policy so that you can still renew your policy should you wish to extend your coverage after the term policy expires.
It is important to note, however, that if you are thinking of long term insurance. It might be best to go with a Whole life insurance policy eventually. Term life Insurance premiums tend to get more expensive as one gets older and may not be cost-effective anymore once you are already in your golden years. It would be very good to shop around to get the best rates available. Life insurance portals (such as this one) are great tools to compare quotes across many different companies.
Tags: life insurance, life insurance advice, life insurance cover, life insurance coverage, life insurance information
Benefits Of Whole Life Insurance Alaska AK
Reader’s Question:
What are the benefits of a whole life insurance policy in Alaska?
JC
Anchorage AK
When someone thinks of a life insurance, the first type that comes into mind is the whole life insurance. Aside from the life insurance it offers, whole or permanent life insurance has also benefits that a term life insurance does not have.
One of the benefits that a Alaska whole life insurance offers is the level guaranteed death benefit. Unless the guaranteed death benefit is part of the estate, it is usually free from Federal income tax. Death benefit cannot be cancelled so long as required premium is continuously being paid. The whole life insurance premium remains level. This means that it never increase unless policy owner has a modified whole life insurance policy. Unlike term life insurance policy, whole life insurance policy has cash value component where policy owners can take a loan without tax. If the policy owner has a participating whole life insurance policy, he/she can earn dividends when the life insurance company declares it. Dividends depend on the life insurance companies’ experience and performance. Whole life insurance policy is also flexible. There are certain modifications and derivations from whole life insurance policy like the modification life policy, single premium life insurance policy and limited payment policy. There are also different riders that you can add to your whole life insurance policy such as waiver of premium, accidental death benefit, term life insurance, living benefit rider, spouse & children riders and future policy purchase riders.
Tags: whole life insurance