Automobile insurance is required in most states, but overpaying for it is not. We save clients 20% on average.
You must have automobile insurance in New York, New Jersey, and most other states. This is mandatory. New Jersey and New York are “no fault” insurance states. This means that if you are in an accident, you are covered by your insurance regardless of who actually caused the incident.
You are required to have the following coverage in most states:
- Liability insurance
- No-Fault insurance
- Uninsured motorist coverage
- Optional vehicle repair and replacement coverage
The complete package is considered comprehensive insurance.
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Your liability insurance should have a minimum of $25,000 for injuries to one person and at least $50,000 for injuries to two people or more. In addition, $50,000 is necessary to cover the death of a person involved in the accident.
The motor vehicles departments require that you show proof of insurance when you register your vehicle. You need to carry proof of insurance with you when operating a vehicle.
This is just the minimal amount of insurance for one or two adults operating a vehicle. Your premiums may be based on your safe driving record. Adding a teenager to your insurance is likely to raise the rates, but that person must be insured to operate a vehicle.
Comprehensive Vehicle and Damage Insurance
The repair and replacement value of your vehicle is also important. Vehicle lease contracts and may auto financing companies require replacement insurance.
You will want protection for any damages to your vehicle including theft. This can include a break-in to the car to steal anything within it.
Replacing parts or removing dents can be costly, based on your vehicle. You want complete insurance coverage for all damages.
You may own an antique vehicle that you carefully restored. This car or truck is an emotional and financial investment that requires special insurance. Your liability insurance will cover you when you drive the vehicle, but you require special insurance for any damages.
Motorhomes, vans, trucks with campers, trailers, and fifth wheel trailers must be covered by insurance. The cost to cover the vehicle against damages may be higher. RVs are also a major investment, and you want your vehicle protected.
The insurance rate will depend on the vehicle size and other options. Your liability insurance rates may increase since driving a large motorhome or pulling a trailer requires extra skill. New York and other states add an “R” endorsement to your license for driving vehicles over 26,000 pounds.
Boats and Other Watercraft Insurance
You may have a boat or jet skis on a trailer that you use in good weather. The trailer and often the boat must be licensed. You need proof of insurance for the trailer when you apply for a license.
Pulling a trailer with a boat or jet skis also requires extra skills. This includes backing up and parking the trailer. You must also know how to launch a boat and return it to the trailer without damage to either the boat or your tow vehicle.
Liability insurance is also recommended while you operate the boat on the water. A safe boating certificate from the US Coast Guard or United States Power and Sail Squadron may be necessary to qualify for boat insurance. This shows that you have completed a safe boating program. You may have a large boat that is kept in the water in a marina. Most marinas required insurance to cover damages to the vessel along with liability insurance.
Contact us at Comprehensive Insurance Agency for information on rates for auto, RV, and vessel insurance. We are happy to answer all of your questions about all insurance options for your individual needs.