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claims Archives - Page 4 of 4 - Horan Companies | New York Insurance Agency, Baldwinsville, NY

When a car suffers damage it might not take as much as you'd think to make it totaled

How is a car considered totaled?

By Accidents, Auto Insurance, claims

Question 11 in 100 insurance Questions in 100 Days Is My Car Totaled? You’ve probably heard someone refer to their car as “totaled” after an accident. Perhaps you yourself have experienced the same. To many, totaled means non-drivable or completely useless… and destined for the compactor at the junk yard. Though that can be true, you might be surprised to hear that it can take very little to total a vehicle. When you carry comprehensive and/or collision insurance on your auto policy, you are insuring yourself for the actual cash value of the car. Actual cash value or ACV, is…

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Loss of Use, is it Worth it?

By Homeowners Insurance

Question 9 in 100 Insurance Questions in 100 Days! There is a portion of a New York Homeowners Insurance Policy that is often forgotten about. It is called Loss of Use or Additional Living Expense coverage. It’s the amount of money your insurance company will provide to you for expenses incurred due to living elsewhere after a claim. If you were to have a fire loss, and the home were to be uninhabitable, you would still be responsible for property taxes, insurance, and of course, any loan payments on the property. Yes, the bank will expect to be paid as…

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Should I inventory my stuff in the case of a fire?

By claims, Homeowners Insurance

Question 6 of 100 Insurance Questions in 100 Days! You might think the insurance company is going to make you prove every last spool of thread or box of nails. The truth is, the only time it really matters is when you’ve purchased an unusually high amount of something that most people would only have one or two of, like 10 drills or something. However, I suggest creating a short video of your home so that you can have some help recalling what was in it in case of a bad fire. In my experience, most people have a hard time remembering…

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Is Liability on Auto Insurance Meaningless?

By Accidents, Auto Insurance, claims, Driver Safety, Rates Prices

Question 5 in 100 Questions in 100 Days In order to register a car in New York State, you have to first show proof of insurance. Not insurance that protects the car. The state couldn’t care in the least if want to protect your vehicle. Instead they are ensuring that you have liability insurance in case you injure someone or damage something. There is a minimum amount that you are required to carry. $25,000 per person $50,000 per accident $10,000 property damage Anything beyond those limits are your responsibility. For example, if you run a stop sign and tee-bone a…

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You have New York auto insurance policy, but what does that little section called no fault insurance mean?

How do I use my No Fault Insurance coverage?

By Accidents, Auto Insurance, claims

Question #3 of 100 Insurance Questions in 100 Days: What is No Fault Insurance? If I were to go out and ask 10 New York drivers what the definition of no fault insurance is, I’d likely get 10 totally different answers, none of which would be fully correct. Admittedly, before I became an insurance agent, I wouldn’t have known much either. Some might think no fault insurance is some strange endorsement only purchased by a small percentage of people, when in fact it isn’t. Every New York auto policy with registered vehicles will have no fault insurance. So if you…

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When you borrow a car in New York State who pays in case of an accident? Call us at Horan and we'll help you understand this common question

My friend crashed my car! Now what?

By Accidents, Auto Insurance, claims

Question 2 of 100 Insurance Questions in 100 Days This is one that I get about once every couple of weeks or more. There must be a lot more people loaning out their cars than I thought! As long as you are insured your policy will cover the claim if your friend was in an accident. Of course they had to have been given permission to drive the car first! This is how it works in New York State at least. If you should borrow someone’s car, it would be wise to confirm that the insurance is in-fact current. You…

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