Alaska Commercial Vehicle Insurance
Get a full analysis of Alaska commercial vehicle insurance costs, coverages & companies.
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Christine Lacagnina has written thousands of insurance-based articles for TrustedChoice.com by authoring consumable, understandable content.
Find the Best Commercial Vehicle Insurance Rates & Companies in Alaska
There are thousands of businesses based in Alaska that encompass many different industries, each of which has different insurance needs. If you're a business owner who relies on company-owned vehicles in your day-to-day operations, you need commercial vehicle insurance. Whether you own a large manufacturing company or a small retail establishment, you must have the liability protection these policies provide.
An independent insurance agent in Alaska can help your business get the coverage it needs fast. They'll get you matched to the right policy for the job. But first, here's an overview of commercial vehicle insurance requirements and more in Alaska.
Best Commercial Vehicle Insurance Companies in Alaska
Options for commercial vehicle coverage may be more limited in Alaska than in other states. That's why it's so helpful to have a guide for where to look when it's time to find the right coverage. We've put together a list of our top recommendations for commercial auto insurance in Alaska for your convenience. Start by checking out these top-rated commercial auto insurance companies in Alaska.
- Liberty Mutual: Liberty Mutual is a longstanding carrier that offers commercial auto insurance along with many other business and personal products. The insurer is also a Fortune 500 company that offers 24/7 claims reporting and holds excellent ratings from AM Best and the Better Business Bureau (BBB).
- Travelers: Travelers is another longstanding carrier that offers commercial auto coverage along with many other personal and business products. The insurer has outstanding ratings from AM Best and the BBB, as well as a large volume of positive customer feedback, and many discount options.
- Progressive: Progressive is a top-rated carrier that offers commercial auto insurance along with many other personal and business coverages. The insurer has solid financial strength and offers 24/7/365 customer service.
An Alaska independent insurance agent can help you find the best commercial vehicle insurance policy for your business from one of these outstanding carriers.
What Commercial Vehicle Insurance in Alaska Can Cover
Your Alaska business must carry commercial vehicle insurance if it uses company vehicles for work purposes. While the coverage in your unique policy may vary, you can often expect to find the following types of protection in a commercial auto policy in Alaska:
- Liability insurance: Pays for bodily injury or personal property damage costs related to incidents with third parties caused by a company vehicle.
- Collision insurance: Pays for damage to your car from a collision with another driver, regardless of fault.
- Comprehensive insurance: Pays for damage to your car due to a non-collision event such as a flood or theft.
- Medical payments insurance: Pays for the costs of medical treatments if a company driver or their passengers get injured in an accident while using a company vehicle, regardless of who was at fault.
- Uninsured/underinsured motorists insurance: Pays for the costs of incidents involving another driver who doesn't carry any or adequate auto insurance of their own to cover their portion of the expenses, as well as costs related to hit-and-run accidents.
Satisfactory commercial auto insurance coverage is required to complete Alaska commercial vehicle registration. An independent insurance agent in Alaska can help you create the best commercial auto policy for your company.
How Much Commercial Vehicle Insurance Is Required in Alaska?
Alaska commercial vehicle regulations must be reviewed by all business owners before obtaining coverage. Alaska state law mandates that all businesses with company vehicles must have at least the following coverage types and amounts:
- Bodily injury liability insurance: At least $50,000 per person and $100,000 per accident of bodily injury liability insurance is required for businesses with company vehicles in Alaska.
- Property damage liability insurance: At least $25,000 per incident of property damage liability coverage is required for businesses with company vehicles in Alaska.
The basic commercial auto coverage requirements for businesses in Alaska are 50/100/25. Alaska commercial vehicle enforcement helps ensure your business has at least the minimum amount of coverage required by state law to avoid fines and other penalties.
What Commercial Vehicle Insurance in Alaska Will Not Cover
A commercial auto insurance policy in Alaska comes with its own set of coverage exclusions. Your business's policy most likely will not cover:
- Injuries covered by a workers compensation policy
- Accidents caused by an employee or other company driver who was intoxicated
- Damage to company vehicles from pollutants
- Intentional property damage or injuries caused by employees or other company drivers
Your Alaska independent insurance agent can review your specific policy's exclusions with you.
Average Cost of Commercial Vehicle Insurance in Alaska
Commercial auto insurance in Alaska costs an average of $147 per month. However, the cost of your specific business's policy may vary based on:
- The type and amount of vehicles insured
- The driving history of employees who use company vehicles
- The type and amount of coverage chosen
- The policy's deductible amount
- Your business's location, size, and annual revenue
An Alaska independent insurance agent can help you find affordable commercial auto insurance for your business.
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Popular Questions about Alaska Commercial Vehicle Insurance
Yes, businesses that use company vehicles in Alaska must be covered by commercial auto insurance. This coverage helps pay for costs associated with liability and more.
Property damage liability and bodily injury liability coverage under commercial auto insurance are required by law in Alaska. If your business uses vehicles for company operations, you must have at least the state's minimum mandated coverage.
The minimum coverage required in an Alaska commercial auto insurance policy is bodily injury and property damage liability. But you can customize your policy to include additional protections such as collision and comprehensive.
In Alaska, at least the following types and coverage amounts of commercial auto insurance are required by law:
- Bodily injury liability insurance: At least $50,000 per person and $100,000 per accident of bodily injury liability insurance is required.
- Property damage liability insurance: At least $25,000 per incident of property damage liability coverage is required.
Yes, commercial vehicle insurance premiums can be deducted from a business's taxable income in Alaska. Commercial auto insurance can be claimed as a business expense.
A commercial auto policy in Alaska covers at least property damage and bodily injury liability. But you may add more coverage to your policy, such as uninsured motorist, medical payments, and others.
Commercial vehicle insurance costs about $147 per month in Alaska. An independent insurance agent can help you find an affordable policy for your business.
Alaska independent insurance agents have access to multiple commercial auto insurance companies in your area, so they know where to find the best, most affordable coverage. They'll present you with quotes for the policies that best meet your business's coverage needs at the right price.
https://www.insureon.com/small-business-insurance/commercial-auto/alaska