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October
2006
Dear
Alaska Insurance
Consumers:
We
at the Division
of Insurance
are proud to
provide you with
this Alaska Insurance
Consumer's Guide.
The guide represents
the combined
experience and
expertise of
many people.
We have put this
guide together
for several reasons.
Our Consumer
Services Specialists
receive many
questions about
insurance. We
believe that
there are other
people out there
who also have
questions. In
order to help
the citizens
of our state
be more knowledgeable
purchasers of
insurance and
to understand
their rights
and responsibilities
under their policies,
we have developed
this resource.
The
guide is written
in sections that
cover different
types of insurance.
Insurance is
a part of our
lives. Whether
it is the insurance
policy we buy
for our first
car, the homeowner's
policy we get
when we purchase
our first home,
or the life insurance
policy we purchase
to provide for
our children.
All of us purchase,
or are covered
by, insurance
of one form or
another. The
Consumer Federation
of America, a
consumer advocacy
group, estimates
that insurance
is the fourth
largest non-housing
purchase we make
in our lifetime.
We spend many
dollars on insurance.
Frankly though,
few of us fully
understand what
we are purchasing.
We believe this
guide will help
you by answering
some of the more
frequently asked
questions about
insurance.
Insurance
can be a very
personal cost.
Some insurance
is mandated by
statute such
as auto insurance.
Other insurance
is a matter of
personal choice
i.e. life insurance.
Purchasing insurance
is like purchasing
any other product
or service. The
more you know
the better prepared
you are to ask
the right questions
and make the
right choices.
We all need to
maximize the
benefits of our
insurance dollars
or to reduce
those costs.
One way to do
this is to buy
only the type
and amount of
insurance you
need.
Your
local licensed
insurance producers
and other insurance
company representatives
can provide you
with information
to help you make
your insurance
decisions. The
Division also
has a number
of publications
which are listed
in this guide
which are available
to you at no
cost. The Division
is also here
to help you if
you experience
problems with
the handling
of your insurance
affairs. We will
try our best
to help you.
Sincerely,
Linda S. Hall,
Director
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