Get the New York Insurance You Need at the Right Price
From the Statue of Liberty to the Museum of Modern Art and the Adirondack Trail, you have many choices of things to do and places to go in New York. But before you do anything or go anywhere you need to be sure you have the right insurance for yourself and your business. Whether your needs are large or small, an independent agent is ready to help you get the New York insurance you need.
You can get personalized insurance recommendations from a local Trusted Choice® agent. An independent agent can help you find the personal and business insurance policies you need, by shopping multiple carriers, and finding New York insurance quotes tailored to your budget. Contact one of New York's 1,287 Trusted Choice member agents today, to get started.
Why Should I Do Business With an Independent Agent?
There are two kinds of kinds of insurance agents: captive agents and independent agents.
Captive agents represent only one insurance company. The policies they offer are limited to those carried by a single insurance provider.
Independent agents represent a number of insurance companies, which gives them many more options in addressing your needs. An independent agent can access multiple New York insurance quotes to help you obtain the best coverage at the best price.
Buying Auto Insurance in New York
New York is a no fault state, which means that after an accident, an injured person looks first to their own policies for compensation, or to recoup property damage losses. New York requires the registrant of a vehicle to carry a minimum of the following liability coverage:
- Bodily injury: $25,000 per person and $50,000 per accident
- Accidental death: $50,000 per person and $100,000 per accident
- Property damage: $10,000 per accident
These are minimum limits, and most drivers elect to carry much higher limits for protection against high settlement costs. In addition to minimum liability coverage discussed above, a full automobile insurance policy can provide the following protection:
- Uninsured/Underinsured motorist coverage in case you are struck by a person who has no insurance or who carries inadequate limits
- Medical payments which covers persons injured in your vehicle, even though you may not be at fault
- Comprehensive and collision protection to cover damages to your car
- Optional coverages such as road side assistance, towing, and an allowance for emergency replacement rental coverage
Obtaining Homeowners Insurance in New York
A homeowners policy can pay for the full replacement cost of the home in the case of a total loss, if you have the right policy. Unfortunately, many homeowners fail to carry enough insurance to take advantage of this. The coverages offered in a typical homeowners policy are:
- Property damage coverage, on the structure of the home itself including any attached structures
- Coverage on unattached outbuildings on the same premises
- There is limited coverage for trees, shrubs and plants
- Personal contents such as electronics, furniture, and clothing, are covered anywhere on the premises
- There is limited coverage for contents off premises
- The policy will pay for extra living expenses arising from an insured claim
- The policy provides liability protection for you as the owner, for bodily injury and property damage claims from guests or intruders
- The policy will pay the medical expenses of someone hurt on your premises even if you are not at fault
Every policy has limitations and exclusions, and it is always a good idea to read the contract. Some of the exclusions you might not be aware of are:
- A homeowners policy will not pay for loss due to flood or earthquake
- There are limitations on the amount the company will pay for certain valuables such as jewelry, furs, fine arts, silverware, coin and stamp collections
- Many companies limit coverage on such things as swimming pools, trampolines and certain breeds of dogs
You can get flood insurance for your home through the National Flood Insurance Program. You can also get special home coverage, like earthquake insurance, and hurricane insurance, to protect your finances from natural disasters.
Getting a Business Insurance Package in New York
Putting together a business insurance plan is a job for a professional. Your best bet is to work with an independent agent who has access to several companies that can offer the New York insurance that is right for you. There are certain basic coverages that every business should consider:
- Coverage on any owned real property
- Coverage on the business equipment and personal property on the premises
- Coverage on other property off-premises, like goods in transit, mobile equipment or property stored elsewhere
- Coverage for lost revenue or extra expenses arising from an insured loss
- Liability protection for an at fault vehicle accident or losses arising from the premises or your business activity
- Professional liability if you have an exposure involving errors or omissions
- Umbrella coverage to increase your liability limits
- Workers compensation to cover your legal obligation to an employee injured on the job
- Health, disability or life insurance if you want to make these coverages available in your employee benefit plan
- Life insurance on a key employee
- Life insurance to fund a business perpetuation plan
These are only the basic coverages that most business will need. There are many other specialized coverages for other needs. You may find that your best plan consists of different policies from several companies.
Acquiring New York Life Insurance
If you are looking for life insurance the chances are you want it for one of three reasons:
- You may want personal life insurance for the protection of your family in case something happens to you
- You may want to add life insurance as an option on your employee benefit program
- You may need life insurance for business purposes such as covering a key employee or to fund a business perpetuation plan
Life insurance can get very complicated. There are many different types, such as term life, whole life, and universal life insurance. Also, you can buy individual policies or group policies.
Buying New York Health Insurance
The Affordable Care Act (ACA) is going into effect, and it will drastically change the American health insurance market. If you are shopping for health insurance you will have three basic choices:
- If you presently have employer-supplied health coverage you will probably be able to keep it, but you may see a change in coverage or rates starting in 2014.
- If you do not obtain your health insurance through an employer-sponsored plan, then starting October 1, 2013, you should be able to access coverage through New York's insurance exchange. Go to http://www.nystateofhealth.ny.gov to find out more.
- Your third option is to shop for coverage on the open market.
This has become an extremely complicated area of insurance. It is a good idea to find an agent who understands the complexities of the marketplace and the many conditions of the ACA. If you have no coverage as of January 1, 2014, or if your coverage does not meet the minimum requirements of the ACA, you will subject to a fine.
Find New York Boat Insurance
A New York boater has access to the Great Lakes, the ocean and many inland lakes, canals, rivers and streams. Most boats in New York must be titled and registered, but there is no requirement that they be insured. Nonetheless, it is never a good idea to be on the water without adequate insurance coverage. Accidents happen. About twenty persons are killed every year in New York, due to boating related accidents. A typical boating insurance policy will cover:
- Liability for bodily injury and property damage if you are involved in an at fault accident.
- Uninsured or underinsured boat protection in case you are struck by a boater with no insurance or with inadequate limits
- Medical payments, which covers persons injured on your boat even if you are not at fault
- Hull coverage to protect against damage to the boat itself
- Optional coverages like emergency service, towing, special equipment or pollution damage
Some things you can do to lessen your chances of a loss or injury:
- Take an accredited boat safety course, which can probably save you money on your boat policy
- Always be sure that everyone on the boat wears a life vest, and have emergency floatation devices available
- Do not let inexperienced persons operate your boat
- Have your boat inspected regularly for mechanical problems
- Be sure you know how to properly launch, retrieve and trailer your boat
Be aware that many policies have territorial restrictions. It is not unusual for coverage to be limited to inland lakes and waters. If you have such a restriction and you wish to use your boat elsewhere, you may need to shop for a new policy, or an addition to your current policy.
Buying New York Insurance
Everyone buys insurance, but not everyone is able to get the best coverage for the least cost. If you work with an independent agent you will be able to get multiple New York insurance quotes. That way you can choose the coverage that is right for you and that fits your budget.
There are 1,287 Trusted Choice member agents in the state of New York. Contact one of them today for the service you deserve.