Auto Insurance in New York Metro Area, Connecticut, and New Jersey
Having the right auto insurance policy can help protect you financially if you are involved in an accident or your vehicle is damaged. An auto insurance policy is designed to provide you with a layer of protection against property, liability and medical costs following an accident. But choosing the right auto insurance can be overwhelming. Reach out to our agency today to learn more about auto insurance and find the policy that’s right for you.
Is Auto Insurance Required?
Most states require drivers to prove financial responsibility, and many do so by purchasing the state’s minimum required amount of auto insurance. You can tailor your car insurance coverage to meet your specific needs with help from your agent.
If you lease or finance a vehicle, your lienholder typically requires full coverage car insurance, including comprehensive, collision and uninsured/underinsured motorists coverage.
Choosing the Right Deductible
The deductible is the amount you’re responsible for paying in the event of a claim before your insurance kicks in. Choosing the right deductible is a critical decision that impacts your out-of-pocket costs.
If you live in an area with high crime rates or are prone to natural disasters, a lower deductible may offer more immediate relief if you need to file a claim.
A higher deductible generally results in lower monthly premiums, but make sure you can afford the lump sum if an incident occurs. Consider your financial situation carefully. If a higher upfront payment in the event of a claim would strain your budget, opt for a lower deductible.
What Do Auto Insurance Policies Cover?
Depending on the policy you choose, your coverages will vary. Here are some of the most popular coverages:
- Collision insurance—This portion of your policy helps cover damage costs if you are involved in a collision.
- Liability insurance—If you are at fault in a wreck, this type of coverage helps insure you against any damage you cause others. Most states, including , require drivers to carry minimum amounts of liability insurance. There are two kinds of coverage included in liability insurance:
- Property damage liability—This coverage helps pay for damage to the other driver’s property (e.g., their car).
- Bodily injury liability—This coverage helps pay for medical bills and sometimes death benefits for the other person involved in the wreck.
- Medical payments (MedPay) insurance—This portion of your policy helps you pay for the medical bills of you and your passengers if you are involved in an accident.
- Uninsured/underinsured motorist insurance—This type of coverage helps you cover the cost of damages caused by someone who doesn’t have adequate auto insurance, specifically liability coverage.
- Comprehensive insurance—This portion of your policy covers damages that are not related to a wreck, such as theft, weather damage or vandalism.
There may be additional coverages that will be necessary based on your unique situation. Be sure to ask our agency how we can tailor your auto coverage to your needs.
How to Get Auto Insurance
John Murphy Insurance is committed to helping you find a policy to fit your specific needs. Reach out to us today to start the conversation or to get a quote.