New York Auto Insurance
can seem confusing. But once you
understand the individual types of
insurance that makes up a policy,
it’s not hard at all. Your NY
Auto Insurance is really a package of
individual type of coverage.
Together, these make up your
standard New York Auto
Insurance policy. Each of these
components has its own separate
premium. Your premium payment (be it
monthly, quarterly or yearly) is the
total of these separate premiums.
-
Personal Injury
Liability provides
protection if you injure or kill
someone while someone is
operating your car. It also
provides for a legal fees if
another party a lawsuit against
you.
In the event of a serious
accident, you need enough
insurance to cover a judgment
against you in a lawsuit,
without jeopardizing your
personal assets (home, bank
accounts etc.).
This injury liability
insurance covers injury to
people, not your car, so it’s
standard practice to have the
same amount of coverage for all
of your cars.
-
Medical Payments
Insurance covers the
medical expenses of the injured
driver and passengers in your
car. There may also be coverage
if you are injured by a vehicle
as a pedestrian.
-
Uninsured Motor Vehicle
Coverage pays for
injuries caused by an uninsured
driver or a hit-and-run driver,
in a crash that is not your
fault. In most cases is
also uninsured motorist coverage
for damage to your vehicle.
-
Comprehensive Damage
Coverage pays for
losses resulting from matters
other than a collision. For
example, it covers damage to
your car if it is stolen; or
damaged by flood, fire or fallen
objects.
-
Collision coverage
pays for damage to your car when
your car hits, or are hit by
another vehicle.
-
Property Damage
Liability protects you
if your car damages someone
else’s property. It also
provides you with legal fees
if another party files a lawsuit
against you.
-
Rental Reimbursement
Coverage pays for a rental
vehicle when the insured's
vehicle is damaged as a result
of a loss covered under the
comprehensive or collision
policy.
.gif){kind=spacer}
