Commercial Auto Insurance Minimum Requirements in Alaska
Alaska has different financial responsibility requirements for its commercial vehicles than it does for its private use vehicles. Commercial drivers must carry higher liability insurance to prove financial responsibility.
Ways to Establish Financial Responsibility
These are acceptable ways to prove financial responsibility:
- Purchasing vehicle liability insurance.
- Leaving a Department of Transportation-approved security with the Department of Transportation (DOT).
Determine Whether You Need Commercial Insurance
Alaskan law dictates that anyone who drives a commercial motor vehicle with passengers or freight, or who drives commercial freight in a motor vehicle, have commercial liability insurance. This covers everyone who has a commercial driver’s license.
If you're unsure whether you need commercial liability insurance, contact the Division of Motor Vehicles (DMV).
Purchase a Commercial Policy
Before you jump into buying an insurance policy, you should get quotes from several different providers. There are many well-known companies that not only cover private vehicles but commercial ones, too. Or, look into companies that deal exclusively with commercial vehicle insurance.
Premiums vary depending on your situation and whether you need more coverage. Your insurance agent will help you find the right plan.Choose a State:
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