Umbrella Insurance coverage is a secondary layer of insurance and acts like an "umbrella" to protect you and injured parties. Though not common in discussions, it benefits an insured by adding another layer of protection to meet insurance needs. This coverage is in addition to other insurance like auto, renter, and homeowner insurances. Additional Liability Protection If you are in … [Read more...]
Buying Homeowner Insurance
"Homeowner insurance" (like "Automobile insurance") is NOT a single coverage. Rather, it is normally a collection of individual coverages. Think of buying insurance for your home like going to the grocery store. You push your cart down the aisle ... and you buy meat (liability coverage), milk (medical payments coverage), and bread (fire coverage). The key is buying what you need for your … [Read more...]
Health Insurance
Health insurance is important for all Americans to have. This type of insurance provides financial coverage of medical procedures whether planned or unexpected. Health insurance covers a percentage of medical bills for covered individuals. Each policy or plan has specific language detailing the parameters of the provided coverage. Many policies also include wellness … [Read more...]
Understanding Life Insurance
Discussing life insurance is difficult and sometimes confusing. However, it is important to ensure your family is not left with a financial burden. Life insurance can assist with paying a remaining mortgage, college expenses, replacing income, and for funeral expenses. Understanding Insurance Vocabulary Many life insurance policies use the same terminology regardless of the … [Read more...]
Medical Payments Coverage
Medical Payments coverage is additional protection on auto insurance that protects drivers and passengers in need of medical treatment. Medical Payments coverage is not a requirement in Alaska but is good to add to your policy in case of a crash. Coverage Medical Payments (MedPay) covers medical bills and health insurance copays or deductibles for treatment related to injuries from … [Read more...]
Z – Insurance Requirements Following A Crash
Liability insurance is required in the State of Alaska (SOA) for all drivers. According to the Alaska Driver Manual, the minimum amount of mandatory liability insurance coverage is $50,000/$100,000 for bodily injury or death and $25,000 for property damage. All drivers are responsible for maintaining minimum insurance coverage. Insurance Company Requirements Most insurance … [Read more...]
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