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- Alaska Statutes.
- Title 28. Motor Vehicles
- Chapter 20. Motor Vehicle Safety Responsibility Act
- Section 440. Motor Vehicle Liability Policy Defined; Required Provisions.
previous: Section 430
. Default By Nonresident Insurer.
next: Section 445
. Uninsured and Underinsured Motorists Coverage.
AS 28.20.440. Motor Vehicle Liability Policy Defined; Required Provisions.
- (a) In this chapter, "motor vehicle liability policy" means an "owner policy" or an "operator's policy"containing an
agreement or endorsement as provided in this section, or certified as provided in AS 28.20.410
or 28.20.420 as proof of financial responsibility for
the future, and issued, except as otherwise provided in AS 28.20.420
, by an insurance carrier authorized to transact business in this state, to or for the benefit of the person named as
- (b) The owner's policy of liability insurance must
- (1) designate by description or appropriate reference all vehicles that it covers;
- (2) insure the person named and every other person using the vehicle with the express or implied permission of the named
insured, against loss from the liability imposed by law for damages arising out of the ownership, maintenance, or use
of the vehicle within the United States or Canada, subject to limits exclusive of interest and costs, with respect to
each vehicle, as follows: $50,000 because of bodily injury to or death of one person in any one accident, and, subject
to the same limit for one person, $100,000 because of bodily injury to or death of two or more persons in any one
accident, and $25,000 because of injury to or destruction of property of others in any one accident;
- (3) contain coverage in not less than the amounts set out in (2) of this subsection for the protection of the persons
insured under the policy who are legally entitled to recover damages from owners or operators of uninsured or
underinsured motor vehicles because of bodily injury or death, or damage to or destruction of property arising out of
the ownership, maintenance or use of the uninsured or underinsured motor vehicle; this coverage must comply with the
provisions of AS 28.20.445.
- (c) The operator's policy of liability insurance must insure the person named as insured against loss from the liability
imposed upon the person by law for damages arising out of the use by the person of any motor vehicle not owned by the
person, within the same territorial limits and subject to the same limits of liability as are required for an owner's
policy of liability insurance.
- (d) The motor vehicle liability policy must state the name and address of the named insured, the coverage, the premium
charges, the policy period and the limits of liability, and must contain an agreement or an endorsement that insurance
is provided in accordance with the coverage defined in this chapter for bodily injury and death or property damage, or
both, and is subject to all the provisions of AS 28.20.010
- (e) The motor vehicle liability policy need not insure liability under a workers' compensation law nor liability for
damage to property owned by, rented to, in charge of or transported by the insured.
- (f) Every motor vehicle liability policy is subject to the following provisions but these provisions need not be contained
in the policy.
- (1) The liability of the insurance carrier becomes absolute whenever injury or damage covered by the policy occurs; the
policy may not be cancelled or annulled as to this liability after the occurrence of the injury or damage; no statement
made by the insured or on behalf of the insured and no violation of the policy defeats or voids the policy.
- (2) The satisfaction by the insured of a judgment for injury or damages is not a condition precedent to the right or duty
of the insurance carrier to make payment on account of injury or damage.
- (3) The insurance carrier may settle a claim covered by the policy, and if settlement is made in good faith, the amount of
settlement is deductible from the limits of liability specified in (b) of this section.
- (4) The policy, the written application for the policy, if any, and every rider or endorsement that does not conflict with
the provisions of this chapter constitute the entire contract between the parties.
- (g) A policy that grants the coverage required for a motor vehicle liability policy may also grant lawful coverage in
excess of or in addition to the coverage specified for a policy and the excess or additional coverage is not subject to
the provisions of this chapter. With respect to a policy that grants excess or additional coverage the term "motor
vehicle liability policy" applies only to that part of the coverage that is required by this section.
- (h) A motor vehicle liability policy may provide that the insured shall reimburse the insurance carrier for any payment
the insurance carrier would not have been obligated to make under the terms of the policy except for the provisions of
- (i) A motor vehicle liability policy may provide for proration of the insurance with other valid and collectible
- (j) The requirements for a motor vehicle liability policy may be fulfilled by the policies of one or more insurance
carriers that together meet the requirements.
- (k) A binder issued pending the issuance of a motor vehicle liability policy fulfills the requirements for a policy.
- (l) Notwithstanding any other provisions of law, a person who resides in the same household as the person named as insured
or a person who is a relative of the person named as insured shall be excluded from coverage under a motor vehicle
liability policy if the person named as insured requests that that person be excluded from coverage.
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