Because many New York drivers travel within the state for work or vacation, the need for temporary car insurance coverage can be significant. Whether you’re driving in bustling New York City, one of its suburbs or northern New York, having the right insurance coverage can make your trip worry free. If you are renting or leasing a car for up to six months you may find that temporary car insurance is the type of car insurance that benefits you most.
The rental agreement for a vehicle will specify whether the owner or borrower is responsible for the primary insurance coverage for that vehicle. Even if the owner provides coverage, the borrower may choose to purchase additional coverage for added protection. If you are renting a car for a day trip from Mastic to Selden, New York, or if you are leasing a vehicle to travel throughout New York over the period of several months, temporary car insurance coverage could be right for you.
Reasons to Get Temporary Car Insurance
New York State requires drivers to have no-fault, liability and uninsured motorist coverage. You can’t legally operate a vehicle for any period of time without this coverage. Even though the vehicle you are driving may only be yours for a short time you are still held accountable for making sure it is properly insured. Purchasing a temporary car insurance policy can help you do so.
Although only no-fault, liability and uninsured motorist coverage is required by law, you may choose to purchase additional coverage. If a vehicle you own is totaled in an accident, it is your choice whether to replace or repair it. However, when you’re renting or leasing a car, your lender expects to be fully reimbursed. Opting into temporary collision coverage can provide the protection you need.
You’ve worked hard to build your property portfolio and become a landlord in New York. Unfortunately , all it takes is a theft, a bad storm, a fire, or some other disaster to undo everything. Whether you’re a landlord just to bring in a little extra passive income, or you own multiple properties and this is your full-time job, landlord insurance is a necessity.
Some first-time landlords think that their regular homeowners insurance will suffice, even if they aren’t living in the home. In all most every case, this is not true. If you’re sampling renting out a room, while still occupying the home, you may be okay, but if none of the tenants are members of your immediate family, then you need to get a landlord insurance policy to cover damages that are done to the home through natural disasters, acts of violence or even irresponsible tenants.
If your renters have their own renters insurance policy, that’s only for their benefit, not the owners. Their policy will cover the loss of their belongings, but not yours.
For landlords in New York with numerous properties, it only takes one natural disaster to do significant damage to more than a couple of units. Having landlord insurance will help you to get your rentals fixed up and usable in as short amount of time as possible. Insurance for landlords is not cost prohibitive and is a small investment to buy for the protection of some of your most valuable assets. You never know when a theft will attempt to break in, and ruin windows, locks and furniture in the process.
If your New York property does not have adequate landlord insurance, contact us–your Mastic and Selden independent agents–to get assistance in finding the policy that’s right for your business.
If you are a Selden or Mastic driver, you may want to consider adding accident forgiveness to your policy. Under the right circumstances, this useful feature can really give you peace of mind on the hectic New York roads. However, as with any add-on to your insurance policy, it is important to know when accident forgiveness can be an asset and when it would just be a wasted expense.
What Is Accident Forgiveness?
Accident forgiveness is an optional feature that offers drivers forgiveness if they are involved in an accident. Drivers with accident forgiveness coverage get a free pass after an accident, and their premiums will not be automatically raised. Typically, insurance companies require drivers to maintain a clean driving record for up to five years before they can qualify for this plan.
The Advantages of Accident Forgiveness
This feature can be very useful if you have teen drivers on your policy. Young drivers are especially prone to having collisions. By adding forgiveness coverage, you ensure that your teenager can navigate the learning curve without risking your premiums.
Adult drivers in New York who live in or commute to traffic-heavy areas can especially benefit from this feature. Even safe drivers can find themselves in an accident. This feature can provide security against other drivers on the road.
The Downside of Accident Forgiveness Insurance
The cost is the main downside of this feature. Adding accident forgiveness to your policy can increase your premiums up to 40 percent. If you are a safe driver, it is possible that you will pay more than you benefit from adding this form of coverage to your policy.
How an Independent Agent Can Help
Comparing policy features between insurance providers is important when you are seeking accident forgiveness coverage. The length of time you must maintain a good driving record will vary between providers. Further, the increase to your premiums will depend on your policyholder. If you contact us today, an independent agent can help you identify a plan that will work in your favor.
Homeowner’s go to great lengths to protect their home and all of their possessions. They buy a homeowner’s insurance policy that usually covers the structure and some of their personal property. The problem that some owner’s run into with their policy is found when they go to file a claim and they find out that there are some things that have limits as to what the policy will payout. New York residents need to that they have the option to add additional insured coverage or a blanket endorsement to add extra protection to really valuable items.
A Look at Additional Insured Coverage and Blanket Endorsements
The facts about additional insurance coverage for high dollar items on a home policy must be understood correctly or you may have trouble filing a claim. Additional insured coverage gives extra protection to items that are capped by a normal home policy. For instance, a ring valued at $5,000 your policy may only pay $1,000 under normal circumstances unless you have it specifically endorsed for the full valued amount.
A blanket endorsement works a little differently in that it will cover several high dollar items instead of one. If you have a claim and it involves jewelry and computers, then the policy will cover both items at their declared value. You may have to have each item appraised so that the insurance company will know the true value of stated items on the policy.
Selden and Mastic residents may have items that they need to have listed on their homeowner’s policy. If you have any questions, then you have an option of calling an independent agent and asking them questions about your policy. They can help you detail your policy to what you need for coverage and protection.