Auto Insurance for Seldon, New York
At E.A. Funk And Associates, Inc., we understand that insurance is an investment. We respect this investment through personalized policies tailored to each client's unique needs in the Seldon, New York area. We know your car is valuable and represents one of your most expensive investments. To protect that investment, you not only need auto insurance, but you also should understand its benefits.
Common Auto Insurance Questions:
What Is Auto Insurance?
Auto insurance is a contract between you and an insurance company. It’s there to protect you from financial losses due to accidents you cannot control. If you have a wreck or experience any other type of accident, your insurer agrees to pay for some or all of the vehicle’s damage and other losses. For the simple cost of a policy premium, you’ll have financial security in case of unfortunate mishaps.
What Do Auto Insurance Policies Cover?
Almost all drivers have choices about what is included in their auto insurance policies. Most can contain a variety of protections, including:
Bodily injury liability coverage pays for their medical bills
Property damage liability pays for damage to the other driver’s property, like their car
Comprehensive insurance: Pays for damage from non-accidental mishaps, like weather damage
Medical coverage: Pays for your medical bills and those of your passengers
Uninsured/underinsured insurance: Insures you against damage caused by someone else who doesn’t have the appropriate liability coverage
Other coverage offers help for roadside assistance and rental car coverage
Ask your agent how to add these protective elements to your coverage.
Why Do You Need Auto Insurance?
Most states, including New York, require you to carry at least some of this coverage, usually liability insurance, but that doesn’t mean you should only have the bare minimum protection. Let your agent help you determine a more comprehensive coverage portfolio.
We cannot understate the importance of having adequate coverage. Rather than put your savings on the line or go into debt trying to pay for a damaging accident, let your insurance step in. In the end, you’ll be glad you always carried coverage.
How Far Back Can Auto Insurance Look?
Auto insurance companies can look back at 3-5 years of your driving records. Companies are typically looking at claims, accidents and tickets to determine your risk level and, in turn, calculate your rate.
How Much Auto Insurance Do I Need?
The amount of liability coverage you carry should be high enough to protect your assets in the event of an accident. It’s recommended a limit of at least $100,000/$300,000, but that may not be enough.
Is Auto Insurance Required In New York?
New York state law requires that motorists carry a minimum amount of liability insurance of:
$25,000 for bodily injury to one person
$50,000 for bodily injury to all persons
$10,000 for property damage in any one accident
Mandatory “no-fault” coverage of $50,000 is also required.
Many motorists carry higher liability limits and additional personal injury protection beyond these minimum benefits required by law. The law also requires all auto insurance policies to provide uninsured motorists coverage (for bodily injury), subject to the same minimums. In addition, Supplementary Uninsured/Underinsured Motorists (SUM) coverage can also be purchased in amounts up to the bodily injury liability limits of an insured’s own policy. An insurer must offer SUM limits of $250,000 per person per accident and $500,000 per accident ($250,000/$500,000) if a person has bodily injury liability limits of that amount or higher. Insurers may offer higher SUM limits if they wish.