Last Updated: 20 January, 2022
How do I know when my car insurance is due? Examine your insurance policies. They’ll normally state the start and end dates of your coverage. You also need to look through your emails. Your insurer may have sent you an email concerning your renewal. Moreover, make contact with your insurance company. They’ll be able to tell you everything you need to know, and you may even be able to discuss renewing your contract with them.
Car insurance is a policy that covers your losses that arise out of your liability if you are at fault in an auto accident or other general losses to your car. This blog is a checklist of all the coverage options that even the most affordable car insurance in New York must-have.
What are the types of coverage of car insurance?
Car insurance coverage is often of two types:
- Bodily Injury: Bodily injury coverage pays for the medical bills of third-party injuries in the accident and your bills as well. For example, if your vehicle collides with another vehicle and you are at fault, you’re liable to pay for the other driver’s medical bills in case of an injury. Bodily injury coverage will cover this expense on your behalf.
- Property Damage: In an auto accident, the two significant damages are physical injury and damage to the vehicle. Repair costs are often very high for expensive cars. When you are liable for an accident, you also have to pay for the other party’s repair cost. Property damage coverage will pay this expense for you. It will also cover your repair costs. However, you need collision coverage, comprehensive coverage, and liability coverage to cover it all.
Why do I have to choose the most affordable car insurance in New York?
Liability auto insurance is a policy that is crucial for all vehicle owners. A certain amount of coverage for auto liability insurance is mandatory in all states. This coverage is also known as “minimum coverage”. You need minimum liability insurance of $25,000 for bodily injury (per person), $50,000 for bodily injury (total), and $10,000 for property damage (per accident) in New York. You will also need uninsured motorist coverage in your policy.
It is also essential for your financial security. You can add coverage to the basic “minimum coverage” policy as per your needs for more security. For this, you can compare quotes from various insurers and choose the most affordable car insurance in New York.
What are the basic coverage options of the most affordable car insurance in New York?
The primary coverage options of auto liability insurance are almost the same in all states. However, you can add coverages to your basic policy depending on many factors. One of the factors that will affect your choice of additional coverage is your geographical location and the state rules.
CNN Money states the must-haves of a good car insurance policy in detail. To summarize, even when you are looking to buy the most affordable car insurance in New York, you cannot ignore the following additional coverage options:
- Collision coverage: Many people are not aware that auto liability insurance will not cover the expenses incurred in the repair of your vehicle. To get coverage for the repair of your car after an accident, you must buy collision coverage.
- Comprehensive coverage: Your car might need repair due to factors other than an accident. It could be from a hailstorm or just regular wear and tear. Comprehensive coverage will cover these expenses for you.
- Medical payments coverage: In case of a car accident, there are chances that both parties might suffer bodily injury. Auto liability insurance will not cover your medical bills. Therefore, you can consider medical payment coverage for your medical bills.
Frequently Asked Questions
Q. How can I check my insurance policy status online?
Many insurers allow you to log in and evaluate, change, or renew your policy using an online account. You could be able to log in and check if your coverage is up to date if you know the insurance company and the email address linked with your account.
Q. What is the grace period when my auto insurance policy ends?
An automobile insurance grace period typically lasts 10 days after the original payment due date, however, this can vary depending on the insurer. Some companies provide a grace period of up to 30 days, while others do not. Make sure you understand the terms of your insurance coverage.
Q. What happens if you don’t pay your auto insurance on time?
Delayed payments might result in a lapse in coverage, which means you’ll lose coverage for your vehicle and will be breaking the law if you drive without it. You’ll have to pay out of pocket for any injury you cause to yourself, others, or your automobile if you get into an accident once your car insurance has expired.
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