Auto insurance. Alaska.

The Alaska Statutes require that if you own or operate a motor vehicle you must provide a means of taking care of others if you are involved in an accident and determined to be legally responsible. Most people meet this obligation by buying insurance, but it can also be met by posting a bond or by self-insuring, which must be authorized by the Division of Motor Vehicles. The owner or operator of a vehicle registered for use on the road must carry at least the legally required minimum amount of liability insurance.

If you buy automobile insurance, your policy must include minimum liability coverage of: $50,000 per person for bodily injury, $100,000 per accident for bodily injury, and $25,000 for property damage

Alaska Statute 28.22.019 requires that you must have a copy of your policy, certificate of self-insurance, or identification card in your immediate possession when you are driving a motor vehicle

Required Coverage

Liability coverage, the only coverage you are required to carry under Alaska law, provides you with protection from claims by others for damages that might arise out of an accident for which you are found to be legally responsible. This coverage is divided into Bodily Injury Liability and Property Damage Liability.

Bodily Injury

Bodily Injury is the portion of your Liability coverage that pays for expenses such as medical costs, loss of income, and funeral costs of others who are injured or killed as the result of your negligence. Coverage may be purchased with a split limit or with a single limit.
Split limits provide for payment up to a specified amount per person and up to a total amount per accident. A policy containing Bodily Injury coverage with a split limit of $50,000 per person and $100,000 per accident pays no more than $50,000 for the expenses of any one person. If more than one person is injured, a total of $100,000 is available to meet their expenses, but each person can recover no more than $50,000. Your policy or premium quote may show this as $50,000/$100,000

Bodily Injury or BI.
Single limits provide up to a specified amount for all Bodily Injury expenses without limiting the amount of payment per person. A policy containing Bodily Injury coverage with a single limit of $300,000 pays up to the total amount of coverage without limiting the amount an individual may recover or the number of individuals who may be able to recover. However, $300,000 is the maximum amount available under the policy.
You must carry limits of at least $50,000 per person and $100,000 per accident. However, higher limits may be available for an increase in premium. In deciding how much Bodily Injury coverage you wish to select, you may want to consider the cost of medical treatment in your area. Does your community have a trauma center equipped to handle injuries that occur in auto accidents or are there likely to be transportation costs to reach the nearest facility? How many people might be injured in an accident with one other vehicle or with two other vehicles? What is the likelihood in your community of having a multiple car accident or striking a pedestrian?

Property Damage

Property Damage is the portion of your Liability coverage that pays for expenses to repair or replace the property of others which is damaged as the result of your negligence. This coverage does not take care of your vehicle or other items of your property. Coverage is only available as a single limit. Your policy or premium quote may show this as $25,000 Physical Damage or PD.
If your policy provides $25,000 of coverage for Property Damage, it will pay up to that amount for all covered damage occurring during an accident regardless of the number of parties involved.