Comprehensive Guide to Auto-Insurance Agency (New York)
Are you looking for the details of auto insurance?
Based on that, today, we’re going to share what auto-insurance is, and its types comprehensively.
Let’s read now:
It refers to a contract between you, and an auto insurance agency to protect you against financial losses due to accidents or thefts after you pay the company, annual premium.
The auto-insurance covers the losses related to:
Property: Just in case your vehicle hits someone’s property as an accident.
Liability: It covers against third-party’s lawsuit.
Medical: Medical coverage is, for paying the treatment cost of an injured person due to the accident.
Who Is Covered By My Auto-Insurance, and Under What Circumstances?
It includes you, and your family members irrespective you drive your car, or someone else drives your car with your consent.
The auto insurance agency ensures only personal claims, not commercial. You need to buy commercial vehicle insurance to get commercial coverage.
Thus, it doesn’t cover any accident while driving for Uber or Lyft. Though, you can get insured for them by paying some extra charges.
Is Auto-Insurance Coverage Mandatory?
Different states have varying laws. Similar is the case with auto insurance.
Nevertheless, almost every state requires you to have:
- Bodily injury liability
- Property damage liability
- Personal injury protection
- Uninsured motor coverage
1. Bodily Injury Liability:
This pays your injury or death expenses or of anyone driving your car.
2. Property Damage Liability:
In this policy, the auto insurance agency ensures the third-party’s property damage as a result of your car accident.
3. Personal Injury Protection:
You and your passengers’ injuries will be paid by it along with the compensation for wage losses.
4. Uninsured Motor Coverage:
It’s applicable in three conditions:
- When someone hits your car as a faulty person and has no insurance to cover himself.
- Hit-, and-run cases.
- If the faulty person doesn’t have the required amount of sum assured.
What Other Types of Auto-insurance Coverage Are Typical?
The auto insurance doesn’t insure your car’s damage as it mainly pays for the third-party car damage.
Thus, to get your car covered, you’ve to get additional plans like:
- Glass coverage
It pays for the damage to your car by reason of an accident, even if you’re at fault.
Though, you can’t claim the financial losses based on your car’s mechanical failure or wear, and tear.
You can cover your auto loss because of theft, damage by others, flood, and other similar causes.
● Glass coverage:
It protects you against the losses as a consequence of your car’s windshield damage.
What Is Gap Insurance, and Do I Need It?
Your car might get totaled or stolen, so to pay the remaining lease, you’d need gap insurance from the best auto insurance company.
That shows the gap insurance is for paying the gap between your car’s remaining lease, and you’re auto-insurance.
For instance, if your car gets stolen or totaled, the other insurance like collision, and comprehensive will cover only the market value of your vehicle, without bothering about how many leases you owe.
To cater to that loss, you need gap insurance from a reliable auto insurance agency.
What Is Commercial Auto-Insurance?
Commercial vehicle insurance provides coverage to commercial vehicles. It compensates for large fleets and small businesses.
This kind of vehicles are covered in it:
- Box trucks
- Food trucks
- Work vans
- Service utility trucks
You can’t insure them with other than commercial auto insurance NY.
Moreover, this also covers the employees, and the equipment in the vehicle during the business activities.
Why Do You Need Commercial Vehicle Insurance?
As personal auto-insurance doesn’t insure the vehicle under commercial usage, therefore, you can’t ignore buying Commercial vehicle insurance.
Another reason is, personal vehicle insurance is written, and calculated differently from the commercial one.
You should have a certain amount of sum assured to get the state permission for the business activities of your vehicle.
What Does The Commercial Vehicle Insurance Cover?
This insurance covers:
- Lawsuits liability
- Medical payments
- Uninsured motorist
● Lawsuits Liability:
It pays the financial losses if someone sues you for any harm resulting from your commercial vehicle.
That provides compensation in the event of theft, vandalism, flood, fire, and other damages to your vehicle.
● Medical Payments:
By chance the driver or the passengers in your commercial vehicle get injured, it’ll pay for their expenses.
● Uninsured Motorist:
Uninsured motorist compensates if a person hits your car without being insured. Similarly, for hit-, and-run cases too.
Why Should I Buy My Commercial Auto-Insurance From Smart Apple?
We, Smart Apple, provide you with competitive rates, and the best customer services.
Likewise, our auto insurance agency is financially backed to compensate for all the claims of our clients.
Thus, contact us now to get the fantastic feeling of getting covered with us.
What Does TLC Mean?
TLC means taxi, and limousine commission. The New York state created it for the taxis in New York City.
It bounds the taxi drivers to have a TLC license before driving the taxis.
Moreover, the TLC license makes drivers reliable.
How Important Is Taxi and Limousine Commission Insurance?
It is essential since a person isn’t allowed to drive a taxi without it.
A taxi driver must have some amount of liability insurance before bringing his car on the road.
Taxi and limousine commission insurance also protects the third-party injury, and property damage, though your car isn’t covered by it.
But don’t be sad for the reason that you can get this facility by paying additional charges, with collision insurance from the best auto insurance company.
What Exactly Does The TLC Insurance Cover?
This insurance covers the minimum requirements of:
- Liability coverage
- Personal injury protection
- Uninsured motorist coverage
All three of them cover third-party injuries and financial losses; that’s why they’re also known as third-party protection.
What Does TLC Dem, and?
The TLC licensed vehicles require insurance based on different classes, seating capacity, and coverage conditions.
Mostly, mandatory amounts of liability coverages are:
- $100,000 per person.
- $300,000 per accident.
- $200,000 for personal injury protection.
- $10,000 for property damage.
You can enjoy full-coverage by combining collision insurance with liability.
Where Do You Need TLC Insurance?
You need TLC in any case, whether you’re an Uber or a Lyft or a traditional FHV driver.
What Does TLC Insurance Cost?
The cost of TLC varies according to your driving, and auto history, years of taxi driving, claim records, police or citation records, and your vehicle details.
Thus, it’s difficult to tell you a hard, and fast price.
Getting A Quote:
Two ways of getting a quote are:
It means visiting a broker or calling him to ask all the details, and then proceed.
Using insurance-related mobile apps, and getting insurance online without visiting any broker.
Thereupon, we recommend you to use the modern method if you feel confident about your desired auto insurance agency.
Where Can You Get TLC Insurance?
You can get the insurance from the brokers or through the insurance apps.
What Info Is Needed To Get A TLC Insurance Quote?
You’re required to provide the following data:
- Your name
- TLC license
- Driving history
- Vehicle information
- Vehicle titles or bill of sale
- TLC base card
What If I’m A New Driver?
In that case, you should fulfill the following steps:
- Get TLC license
- Acquire the vehicle’s plate before applying for the insurance
- Read, and execute the basic eligibility terms for the drivers.
What Else Is Needed?
You’ve to complete these conditions:
- You should have a four-door car or a minivan for an FHV taxi.
- The model of your car should be of 2006 or newer.
- It must be in good condition without any cosmetic damage.
- There must be no branding on the car.
- It must have passed emissions tests
- It needs to show valid certification
Besides, you’re suggested that you should keep your car clean from inside, and outside. Same way, you must show appropriate behavior.
Are You Applying For TLC Insurance?
Follow the steps below to apply for TLC insurance from a trustworthy auto insurance agency:
Step #1) Install the app
Step #2) Fill the form with your basic information
Step #3) Attach your TLC license’s pictures from both sides.
Step #4) Get your quote
Step #5) Choose the desired policy as well as its starting date, and the type of payment plan.
Step #6) Enter your cell number
Step #7) Review the policy, and sign digitally
Step #8) Select a payment method.
What Is Motorcycle Insurance New York?
It pays the motorcycle-related claims as a result of an accident, theft, or damage. Moreover, it also compensates for third-party harm and property damage.
What Does Cheap Motorcycle Insurance Cover?
A portion of your motorcycle’s loss is covered with it. Furthermore, it also pays the third-party harm, property damage, and your legal fees if you get sued.
Motorcycle insurance (New York) is also known for bodily detriment and property damage liability.
Because it ensures the price of liability claims, and legal fees up to the policy’s limit in case you’re at fault.
How Much Motorcycle Insurance Do I Need?
That depends on the way you drive, and the sort of bike you own as a sports bike needs a high amount of insurance, which costs a lot.
Though it’s beneficial in paying the third-party property damage, personal injury, and some other legal claims.
How Much Does Cheap Motorcycle Insurance Cost?
First, you should buy comprehensive coverage to keep your bike, and its body parts safe against theft.
Now regarding the insurance cost, small bikes cost around a few hundreds of dollars, while the sports bikes cost between $3000 to $5000 annually.
So think, which one you can afford.
Definition, and Importance of Truck Insurance:
Commercial Truck insurance is a financial coverage of trucks against any loss. To get it, the owner of the truck has to pay the yearly premium to an auto insurance agency.
Two categories of truck insurance are:
- Owner-operator under lease to a motor carrier
- Owner-operator under your authority
1. Owner-Operator under Lease to a Motor Carrier:
An owner-operator is one who owns a commercial truck.
He provides it or his driving services to another motor carrier on lease for a certain period, and works under that carrier’s supervision.
2. Owner-operator Under Your Authority:
It means owning a truck and getting paid for delivering freight independently with the government’s permission.
Seven Types of Commercial Truck Insurance:
1. General Liability Insurance:
It’s also called public liability insurance. This ensures third-party property damage and injuries on account of business activities other than truck driving.
For instance, a person gets injured on your commercial property, so he can sue you, and claim for financial compensation.
In such a case, the general liability insurance comes to pay the loss on your behalf.
2. Primary Liability Insurance:
Its secondary name is trucking liability insurance. To check the standard of an auto insurance agency, find out whether it’s primary liability insurance or not.
This insurance only covers third-party damage and injury. It’s nothing to do with covering your truck and the freight.
3. Non-trucking Liability Insurance:
You get the sum assured for non-business activities while using your truck.
If someone claims compensation against you for his property damage or injury during non-commercial activities of your truck, this insurance will pay the expenses.
4. Bobtail Insurance
The bobtail insurance is to financially protect your truck from the losses after delivering the load, and during it doesn’t get used again for trucking purposes.
a) Your driver has an accident while going towards his home.
b) An accident on the way to carry another freight after delivering the previous one.
c) Having an accident when your driver was going to pick your first freight.
5. Physical damage insurance:
It’s a combination of different insurance to protect your vehicle, like:
a) Collision insurance
b) Full comprehensive insurance
c) Combined additional coverage insurance
6. Motor truck cargo insurance:
It ensures your freight or commodities hauled by a for-hire trucker. In case it gets damaged by fire, collision, or striking of a load, this insurance compensates your losses.
7. Workers’ compensation insurance:
This ensures your employees’ illnesses or injuries as a result of their jobs. Moreover, it is used to pay the lawsuits by an employee against you.
Besides, the state laws have made it necessary for most of the employers to have the workers’ compensation insurance.
Please note down the important points, and buy auto insurance accordingly.
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