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totaled Archives - Horan Companies | New York Insurance Agency, Baldwinsville, NY

What does Gap Insurance do?

By Auto Insurance

Question 46 in 100 Insurance Questions in 100 Days Video Series If you’ve ever financed a vehicle and suffered a total loss early on in the loan, you might have been upside down. Okay not literally, but you might have had no car, and $3,000 bill left to pay to the bank. Insurance carriers do not base their decisions upon the balance we owe to the bank, but rather the vehicle’s current market value. Gap insurance will assist in this area. Watch the video to see more.

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When does a ticket or accident stop hurting your rates?

By Accidents, Auto Insurance, claims, Rates Prices

Question 17 in 100 Insurance Questions in 100 Days This is a common question and one that doesn’t always offer a favorable answer. Most insurance companies are going to go back 5-years for all drivers on the policy. Any infraction will impact the overall rate of the policy. This is why having a small claim can often be more costly over time than the actual dollar amount of the claim. Watch the video for more information.

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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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