Integrity Insurance Agency, LLC

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FAQ

Personal Insurance

What is the minimum required auto insurance coverage I need to purchase?

The state of Alaska requires all personal licensed vehicles that operate on its roadways to carry bodily injury liability at a limit of no less than $50,000 per person and $100,000 per accident and at least $25,000 per accident for property damage liability. With rising costs of vehicles and medical care and the increased number of multi-car accidents, Integrity Insurance Agency urges you to consider an even higher limit of liability to others, such as $100,000/$300,000 for bodily injury and $50,000 for property damage.

Why should I have uninsured motorist's coverage?

The last known estimate of uninsured drivers on Alaska's roads was 40%, putting you at a substantial risk of being hit by an uninsured driver. Adding uninsured motorist's coverage to your policy buys back the liability coverage the other driver should have purchased for you. Arguing "Well, they should have had insurance, so why should I buy insurance for them?" doesn't fix your vehicle or pay for your medical costs after the fact.

How do I know how much coverage to purchase for my home?

This depends on how your property policy is being written — on an age-depreciation calculation or a replacement-cost calculation. It is very important that this number be fairly accurate so that you are not penalized by your insurance company on a claim for underinsuring your home. This is definitely a topic you should be open to discussing at length with your professional insurance sales agent.

People say my homeowner's insurance covers my 4-wheeler. Is that true?

Your homeowner insurance policy will only cover the liability arising from the operation of your 4- wheeler if it is used solely to service your primary residence. Purchasing a 4-wheeler insurance policy is the best way to protect yourself and your 4-wheeler.

Business Insurance

Do I really need a commercial insurance policy for a small, in-home business?

Most homeowner insurance policies either exclude business use or extremely restrict the coverage provided for the in-home business. A commercial insurance policy is the best way to protect yourself.

What is commercial umbrella insurance for?

It provides liability coverage above the limits of your other commercial policies for typically a lower premium than increasing the coverage on all the other policies. In addition, many underlying policies have maximum limits that an umbrella policy can surpass.

Why do I need a commercial auto policy when I have a personal auto policy?

Many personal auto policies exclude many business types. In the event of a claim, you may find yourself uninsured and then canceled by the personal auto carrier.

Why don't my market, loan, and insurance values match on my commercial building?

Market value is how much someone is willing to pay for your property, loan value is the balance of your loan, and insurance value is how much it will cost to rebuild your building. To say you just want to cover the loan balance is like saying you just want to cover the bumper on your car.

Do I really need a worker's compensation policy?

If anyone provides employment-related services for you and you compensate them in any manner (even buy them a refrigerator full of groceries), they are by definition an employee, and you could be subject to worker's compensation laws. Even if you don't compensate them, they could still sue you if they sustained an injury in the course of providing the employment service. If you are an individual small contractor and you never have anyone help you, you can elect to not cover yourself; however, some general contractors may require a policy in place to protect their workers compensation coverage.