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Buy more automobile insurance. You and your family need it.

With kids going back to school, parents in Alaska need to worry about personal injuries, automobile wrecks and even wrongful death claims. To protect your kids – and you – be sure to discuss the following insurance with your insurance agent. It costs very little more than the minimums that most insurers try to sell you – and it gives you real protection…

Buy the following insurance, at a minimum:

1. Liability: $500,000 – single combined limit;
2. Uninsured / Underinsured: $500,000 – single combined limit;
3. Medical Payments: $100,000.

These are the minimums you should have. Note that Alaskan law allows you to buy only the following. Don’t do it:

1. Liability: $50,000 per person, up to $100,000 per accident;;
2. Uninsured / Underinsured: $50,000 per person, up to $100,000 per accident;
3. Medical Payments – None is Required.

If you have any questions about what one or more of these coverages actually do in real life – respond to this blog. I’ll explain it in the next posting. Wow – free legal advice…

Also consider raising the deductible on your Comprehensive and Collision insurance. If you can afford the potential financial hit, consider raising your deductible from $250 (normal) to $1,000 or more. You will save a ton of money on your premiums.

Now – finally – I just have to recommend an insurance company. Don’t get me wrong – I detest all insurance companies. Yet, State Farm simply sells the best coverage – for the lowest cost. I buy State Farm automobile insurance for my family. I don’t like State Farm – and believe that most of them eat their own young – but it has to be admitted that State Farm sells the best automobile policy in the State of Alaska. If you can buy State Farm automobile coverage – get it.

***One final parenting tip: Tell your kid that you’ll pay for his/her auto insurance “until you get your first moving violation.” My dad made me this deal, and it kept me out of trouble all the way through high school.

For more information on this subject matter, please refer to the section on Car and motorcycle Accidents.

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