Alaska Insurance Consumer Guide

April 2010

Dear Alaska Insurance Consumers:

We at the Division of Insurance are proud to provide you with this Alaska Insurance Consumer’s Guide. The guide represents the combined experience and expertise of many people. We have put this guide together for several reasons. Our Consumer Services Specialists receive many questions about insurance. We believe that there are other people out there who also have questions. In order to help the citizens of our state be more knowledgeable purchasers of insurance and to understand their rights and responsibilities under their policies, we have developed this resource.

The guide is written in sections that cover different types of insurance. Insurance is a part of our lives. Whether it is the insurance policy we buy for our first car, the homeowner’s policy we get when we purchase our first home, or the life insurance policy we purchase to provide for our children, all of us purchase, or are covered by, insurance of one form or another. The Consumer Federation of America, a consumer advocacy group, estimates that insurance is the fourth largest non-housing purchase we make in our lifetime. We spend many dollars on insurance. Frankly though, few of us fully understand what we are purchasing. We believe this guide will help you by answering some of the more frequently asked questions about insurance.

Insurance can be a very personal cost. Some insurance is mandated by statute such as auto insurance. Other insurance is a matter of personal choice i.e. life insurance. Purchasing insurance is like purchasing any other product or service. The more you know the better prepared you are to ask the right questions and make the right choices. We all need to maximize the benefits of our insurance dollars or to reduce those costs. One way to do this is to buy only the type and amount of insurance you need.

Your local licensed insurance producers and other insurance company representatives can provide you with information to help you make your insurance decisions. The Division also has a number of publications which are listed in this guide which are available to you at no cost. The Division is also here to help you if you experience problems with the handling of your insurance affairs. We will try our best to help you.

Sincerely,

Linda S. Hall
Director

Index of Topics

General Information

Be Aware. . .

Personal Auto Insurance

Homeowner's Insurance

Personal Umbrella Insurance

Life Insurance

Annuities

Long-Term Insurance Policies

Health Insurance

Where to Go for More Information

Division of Insurance Consumer Services Section