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Personal
Personal Lines
While it would be ideal to be able to predict what the future holds for us, the harsh reality is that for most people the future remains a mystery. Life is filled with uncertainty and instead of spending your time worrying about all the “what ifs,” it is important to make a proactive effort in protecting your family, income and personal property by getting the right kind of personal insurance coverage. Our Personal Lines agents are available to help you figure out the best plan for your personal insurance needs, from Homeowners and Personal Automobile policies to Umbrella and Renters Insurance.
Do you own a car? Do you drive it? If you answered yes to these basic questions, then the answer to the “Do I need Auto Insurance” question is: Yes.
In most states you have to have at least liability coverage, in New York State you are required to purchase a minimum amount of certain kinds of coverage. The minimum liability limit in New York State is currently $25,000 per person/$50,000 per accident for bodily injury and $10,000 for property damage.
If you are able to purchase more protection it makes sense to buy more than the required amount. Available for additional coverage are options like Personal Injury Protection (PIP), Towing/Rental Reimbursement, Medical Payments, Full Glass Coverage, Uninsured/Underinsured Motorist, Comprehensive, and Collision Coverage. If you opt to have comprehensive and collision coverage, it is important to figure out what deductible amounts you would like to include in your policy.
Besides the legal requirements to have auto insurance, it can also protect you from personal liability in the event of an accident. Inversely it will also help you out if you are hit by someone without insurance.
In these unpredictable times it is important to protect the things that are most valuable to you. A homeowner’s insurance policy can help you do just that because it is designed to protect your investment in your home by insuring the actual structure or structures and the personal possessions in and around them. It also provides liability protection for the people residing within the home. A homeowner’s insurance policy will also protect yourself and your family from the huge loss in the event of destruction or damage to your home and property.
If you are the only resident within your home, chances are that your mortgage company will require you to have adequate homeowner’s insurance. Even if you own your home outright, it is still a good idea to purchase a homeowner’s policy to replace or repair the things that are impossible to pay for yourself.
A standard homeowner’s policy is divided into two parts: Part A: Home Insurance Property Protection and Part B: Home Insurance Liability Protection. And most basic policies protect against damaged due to: Windstorm and hail, fire and lightning, smoke, vandalism, theft and explosion. Additional coverage can be added to protect against: water-related damage from pipe leakage, electrical surge and damage caused by ice, snow and sleet. Of course every policy is different and there for the deductibles will vary.
Within homeowner’s insurance are specific polices designed for Renters Insurance, Condo Owner, Co-op or Townhouse and Special Homeowners coverage. Every one of these types of policies has different variations so there is more to consider than just price. By working with a professional agency like The Feltner Group we can design a policy to your specific insurance needs.
You may hear the words “Umbrella Policy” and say “why would I need that?” But that is that we live in a highly litigious society and with what seems like a personal injury lawyer on every corner, there isn’t a day that goes by where there is not a story in the newspapers about a new lawsuit being filed both for serious and for frivolous reasons. If you want to protect yourself in the event you are served with legal papers, we suggest you look into getting a personal liability umbrella policy.
So what does the umbrella policy cover? The umbrella policy is excess liability over the primary coverage on your auto, homeowners, boat, motorcycle, RV, etc. The coverage has broader coverage with higher limits. Primary policies generally cover bodily injury and property damage, but with the personal liability umbrella coverage, y
ou can include personal injury, property damage or bodily injury which may be caused by you, your pets, or your dependents. Along with personal injury protection, you may be covered in the unfortunate event of: false arrest, false imprisonment, defamation, invasion of privacy, malicious prosecution, eviction, wrong entry.
There is also coverage if you are charged liability while participating on the board of a charitable, religious or civic organization. It is important to realize that even if the lawsuit is frivolous, you still need to pay the expenses of the lawyers defending you.
So who needs an umbrella policy? If you are a Boy Scout leader, soccer coach, sit on a church board, own a swimming pool trampoline, swing set or even pets, it would be a good idea to consider getting an umbrella policy. When considering purchasing an umbrella policy, you should look at what your assets are and how much you could afford to lose. Many people with major assets either do not buy the extra coverage or not enough. Some people decide that they would rather not pay for it, even though the approximate cost of a $1,000,000 umbrella policy for an insured with one house and two autos is around $140-$150 per year. The chances of being sued for a million dollars are very rare but for the amount it would cost to pay a lawyer for one hour of work, you could be protecting your assets for up to a year.
According to the National Safety Council, a motorcycle accident that cause
s serious bodily injury happens every 14 seconds in the U.S. On top of that the Insurance Crime Bureau Statistics estimate that between 20-25% of motorcycles that are stolen are never recovered. These two factors alone provide enough prominent reason to insure your motorcycle.
Motorcycle insurance, like auto insurance provides liability and comprehensive coverage to your bike along with insuring your personal items like a helmet. It also provides medical coverage in the case of an accident and you need to be taken to the hospital. Some factors that are considered when rating a policy include the age of the rider as well as the age and make of the motorcycle being insured. Newer models and younger riders tend to generate a higher rate.
When con
sidering whether or not you need additional RV insurance on top of your auto insurance, it helps to remember that your RV is a hybrid of sorts; part car- part home. So this means traditional auto insurance will only provide coverage for liability, collision and other issues associated with traditional auto insurance, but what about the personal property inside the RV? These belongings, along with plumbing, furniture and appliances need to be covered by additional insurance pertaining more towards homeowners. This unique policy will vary depending on the cost of the RV and the assets within it. Contact one of agents today to help design the best policy for your traveling needs.
As winter approaches and it gets closer to that time of year when you get to take the snowmobile out of storage, it is important to remember that just like with driving a car, accidents can and do happen on a snowmobile. And instead of wondering if
your insurance covers you while you are on the way to hospital, get covered now with snowmobile insurance. Snowmobile insurance provides collision coverage, personal liability, medical payments and transport trailer coverage, which protects your vehicle while it is being hauled on the road. Whether it is for sport or for fun, snowmobile coverage is essential if you are planning on riding this winter.