No-Fault Insurance, Liability Coverage and Comprehensive and Collision: What are the Differences?

Terms. such as no-fault insurance, liability coverage and comprehensive and collision, are frequent insurance terms. While you may have heard them, you need to truly understand their differences. Turn to the trusted agents at Acme Insurance Brokerage. They serve the needs of drivers in the Amityville, NY area and are ready to work for you!

No-Fault Auto Insurance Policies

New York is a no-fault insurance state. With this type of coverage, anyone in the vehicle, including passengers is covered. This also includes anyone who is injured in the accident while walking by or crossing the street. It will cover medical expenses and loss of income. It goes into effect regardless of who is at fault for the accident. In NY, there are some limitations on policy activations until it is found that the injuries are serious. Examples of serious injuries include bone fractures or disfigurement.

Liability Coverage

NY State requires that drivers carry minimum liability coverage. Liability insurance, though, only covers the repair costs and medical expenses of the other person in an accident where you are found to be at fault. It does not cover your repair or medical expenses. As these policies have monetary caps, if their expenses exceed that amount or they decide to sue, the policyholder is responsible for any additional funds. Generally, this is not the best way to go financially.

Comprehensive and Collision Policy

These provide better coverage for a range of events. It will cover repair costs and medical expenses. It will also protect you if your vehicle is stolen. This can be a better option.

It’s important to invest the time with a trusted agent to discuss your coverage needs. In the Amityville, NY area, the agents at Acme Insurance Brokerage are ready to serve you.  Give them a call then visit their office today!

Does Commercial Insurance Cover Flooding?

Flooding in Amityville, NY may not be an everyday occurrence, but that doesn’t make the event any less devastating when it does happen. If you own your own business, the last thing you need is experience any type of water damage. Much like smoke damage, water damage is one of the most difficult kinds of clean-up. It can also inadvertently lead to problems like mold, another infestation you shouldn’t have to deal with. Acme Insurance Brokerage wants you to be prepared with the right policy, so you can protect your inventory and location. 

Flooding and Business Insurance 

Much like home insurance, business insurance does not usually cover flooding. It’s possible that your policy has a special rider attached to it, but unless you specifically requested it, this is unlikely. Floods can occur from any number of sources, including major storms, overflowing rivers, or broken levees. If your storm drains are blocked, it may not be long before the water starts to seep into nearby buildings.

Understanding Your Options 

Business owners with locations in an area that is more prone to flooding should certainly purchase flood insurance if only for their peace of mind. The last thing any enterprise needs is a nervous business owner who’s worried about the shift in the weather. However, there may be more reasons for you to consider flood insurance once you know the real risks (especially if you’re a business is home to expensive inventory).

Call Acme Insurance Brokerage if you’re looking for better coverage for your business in Amityville, NY. We can make it easier to decide on a policy that’s right for you and your business. We’ll take you through what is and isn’t covered, so you know exactly how your business will be affected should it be impacted by flooding. 

First-time Homeowners: What You Need to Know

One of the toughest decisions for first-time homeowners is choosing the right home insurance policy. The ultimate goal is protecting their investment in the property, but for some, it may become their long-term home. Thus, it becomes a major priority for first-time homeowners to secure an insurance policy that adequately protects them from financial ruin. Acme Insurance Brokerage can help you choose the appropriate policy and find coverage that meets your needs.

The Importance of Home Insurance 

After you have chosen your dream home, now comes the time to evaluate your options for home insurance. Some homeowners believe this will be the easiest decision ever made, but don’t rush through the selection process. You must make sure the policy is as comprehensive as possible. The policy’s coverage needs to protect your new purchase from damage caused by severe weather conditions found around Amityville, NY. 

What Can Make Home Insurance More Expensive

For first-time homeowners, you can fully expect to have very little chance of getting a discount on the initial home insurance policy. Loyalty is a two-way street, so you will have to put some time and effort with an insurance agency before seeing some benefits from the working relationship. It may help to bundle your home and car insurance to gain a lower premium price. It’s crucial for you to evaluate whether the cost of the packaged deal is a better option than shopping your home and car insurance separately on the market. 

Understanding Policy’s Coverage Limits

When determining the type of coverage needed in your home insurance policy, you better keep in mind that the agreement doesn’t need to include default coverage limits in the wording of the deal. It’s the homeowner’s choice to increase or decrease the coverage limits on certain portions of the policy. In plain English, you’re increasing the dollar amount to protect certain areas of the home.

Here are some examples: dwelling protection covers the structure of the home as well as attached (garage or patio) items. You want the coverage to pay the cost of rebuilding the house in case of a disaster. Personal property coverage takes care of all personal belongings found inside the home. Liability protection covers all medical and legal expenses if a guest is injured inside the house or on the grounds of your property. 

Contact Acme Insurance Brokerage in Amityville, NY to speak with an agent about a home insurance policy and how you can get a quote.