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Vehicle Insurance NY

auto insurance new york

Nearly every state in the country requires drivers to have Auto Insurance and New York is no exception. An Auto Insurance policy will protect you, the driver, and other drivers on the road, from damages and injuries caused by accidents. 

 

An auto policy is an agreement between you and your insurance company where you agree to pay a certain amount, or “premiums”, for certain coverages. Typically, you can select the type of coverages you would like, but in specific circumstances, the lender may require you to obtain specific coverages and limits.

 

With an Auto Insurance policy, you can rest assured you are covered in the event you cause an accident. Without Auto Insurance, an accident caused by a driver who is uninsured or underinsured, could make you liable for an array of expenses such as medical bills, damage to the cars and/or property, lost income and  legal fees.

A Colstan & Associates insurance agent will help you create a policy that fits your budget and your needs. 

 

Types of Coverage

  • Bodily Injury and Property Damage Liability – This is required in most states. If you cause an accident, you are covered for medical bills, vehicle damages, property damages and legal fees. (However, you and your car may not be protected. It is important to discuss your options with your agent.)
  • Uninsured/Underinsured Bodily Injury Coverage—This will pay for damages, medical expenses and lost wages you may incur, in the event you are in an accident that is caused by an underinsured or uninsured driver. 
  • Collision Coverage — With this type of coverage, car repairs are covered due to an accident. Your deductible (which you choose) will determine how much of the bill you are responsible for paying.
  • Comprehensive Coverage— Your vehicle will be protected against fire, theft, hitting an animal, vandalism, windshield or other glass damage and severe weather. Your deductible will be applied.
  • Personal Injury Protection—Also known as No-Fault Insurance, this covers your medical expenses (and perhaps loss of income and/or other damages) regardless of who is at fault in the event of an accident.
  • Medical Payments—In case of an accident, this pays for medical and funeral expenses. This will also cover passengers or family members (regardless of fault). This also applies to instances where you or your family members are passengers in another car or if you or a loved one is hit by a car while walking or riding a bicycle.
  • Uninsured Motorist Property Damage Coverage —If you are in an accident caused by an uninsured driver, this coverage will protect you by paying for repairs to your car (once your deductible is met).

 

Additional Coverage

  • Gap Insurance — If you loan or lease your car, you may want to consider this type of coverage, since it will provide you with protection in the event that your car is declared a total loss.
  • Roadside Assistance Coverage — Towing services and roadside help is covered.
  • Rental Coverage— If your car is damaged in a covered accident and you are unable to use it for more than 24 hours, this coverage pays for a rental car or extended transportation expenses.
  • Rideshare Coverage — If you are an Uber, Lyft or other rideshare driver, you may want to consider this coverage. Colstan & Associates has a company that will extend your car insurance to cover when you are logged into a ridesharing app and waiting for a trip request or customer. It’s important to know that most insurance policies of rideshare companies only offer a limited amount of coverage during this time. If your car is damaged while you’re waiting, you may not be covered under their policy since they typically only cover a driver once he or she has accepted a trip request and is driving a customer.

Who is Covered?

Every driver listed on your policy is covered by your auto insurance. That’s why it is so important to list all drivers in your household. Licensed drivers not listed, but whom you allow to drive your car, they may also be covered under your policy. Check with your Costan & Associates agent to verify coverage.

How Much Coverage is Needed?

Every situation is different and everyone’s needs vary. However, you must meet your state’s requirement for Bodily Injury and Property Damage Liability coverage. This will cover you for vehicle and property damage, medical expenses due to injuries, and legal fees for others involved in an accident caused by you. To determine exactly what type of coverage will work best for you, speak to a Colstan & Associates agent.

Umbrella Policy

To obtain additional protection above and beyond what your auto insurance policy covers, consider an Umbrella policy. An Umbrella policy is a separate, Personal Liability policy. Remember, if you are in a serious car accident, the damages you may be personally responsible for can be staggering and often exceed your policy limit. An Umbrella policy will provide you with extra protection and should be considered if your assets are substantial.

Available Discounts

There are a number of types of policy discounts for which you may be eligible, including:

  • Safe driver
  • Multi-policy
  • Multi-car
  • Good student
  • Hybrid/electric car
  • Homeowner
  • Type and frequency of payment