No, you can’t live in one state and have insurance in another. In most cases, you need to buy car insurance in the state where you live. Though your car insurance will cover you for short trips out of state, for longer stays, you will have to update your car insurance policy to match your new residence.
It is advisable to ensure that your insurance and registration address match each other in New York. If the name on your insurance policy is different from that on your registration address, there may be a lapse in the insurance coverage.
If you don’t appropriately estimate your mileage and later need to make a claim, this could invalidate the process and stop your insurer from paying out.
The major difference between commercial and personal auto insurance lies in the ownership of vehicles. If a business owns and operates a vehicle, it must be covered by commercial auto insurance. The liability limits of commercial auto insurance are generally higher than that of personal auto insurance.
Your homeowners policy covers the repair and rebuild of your home in the event of unforeseen damages caused by fire, hail, hurricane, and lightning, among others. However, note that not all natural disasters (such as floods and earthquakes) are covered by homeowners insurance coverage.
You may be denied homeowners insurance if your house is located in a very high-risk area with exorbitant crime rates or extreme weather conditions. You may also be denied coverage if you don’t meet the terms of their underwriters.
Without home insurance, you are not financially protected from potential damages that may affect your home. Also, banks and mortgage lenders may refuse to finance your home unless you have a homeowners insurance that equals the value of your home, which will protect them in the event of damages.
Your homeowners insurance quote may be high due to your home’s age, market value, location (high-risk areas have higher quotes), and exposure to damages. Homes that are less prone to damages generally have lower quotes.
Recreational vehicle (RV) insurance is a policy that protects owners of RVs from paying out of pocket when there’s a loss or when they are at fault in a car accident that causes property damage or bodily injury. RV insurance also provides compensation for repairs if there’s a roadside breakdown.
Vandalism, theft, falling objects, fire, and storms are various damages covered under RV insurance. The insurance policy also protects you against drivers who don’t have liability insurance or lack money to pay for damages or injuries they cause to you.
Yes, your RV insurance may help you cover other drivers. These drivers include those who were listed when the recreational vehicle insurance policy was originally purchased.
Some medical conditions like cancer, heart disease, and severe mental-nervous disorders can disqualify you from life insurance. Such conditions often imply that the individuals with these ailments have lesser probabilities of living for an extended period.
If you lie on your life insurance, your insurer may immediately decline your coverage. Ultimately, this will make it harder for you to get an insurance policy from any other provider.
Before getting life insurance, you need to access your insurance needs and compare the available policies. Also, ensure that you choose a cover that you can fully afford.
There are no specific tax penalties for not having health insurance in New York. However, since 2016, you may have to pay 1/12 of the yearly penalty for each month you go without health insurance in the state, provided you were uninsured for more than 3 months.
To qualify for NYS health insurance, your household income must be between 138% and 200% of the federal poverty level. You must be a United States citizen living in New York State and not be enrolled in Medicare or Medicaid. Note that those below the age of 19 or above 65 will not qualify.
Health insurance for a 35-year old male in the state of New York has an average cost of $750,000. As reported by the National Association of Insurance Commissions, New York had $229 billion in life insurance purchases around 2017.
Renters insurance will generally not cover damage to your personal property caused by some specific perils, such as natural disasters and pests. Most renters insurance policies will not cover damages caused by bed bugs. This is because almost all forms of pest infestation, including rodents, are considered a maintenance issue. Damages caused by floods and earthquakes are not covered under standard renters insurance.
Yes, your claims for renters insurance can be denied under certain circumstances, including waiting too long to file a claim, giving wrong information on your policy, reporting damages caused by floods/earthquakes or other uncovered peril, and so on.
Not all apartments and rental properties require renters insurance. However, if your landlord specifies the need for such insurance in your mortgage and you are found without it, you can be legally evicted.
A wedding insurance policy covers damages to the intended venue of the event. The policy also covers irrecoverable expenses and deposits lost due to unavoidable cancellation or curtailment where the previously booked venue needs to be canceled due to bankruptcy.
You can get wedding insurance as late as 24 hours before the wedding day. However, it’s more advisable to purchase the policy as early as two years before the date.
Yes, you can insure your wedding by getting a wedding insurance policy. It protects you from damages to the venue and other unforeseen liabilities.
Business insurance covers businesses from losses due to grave events that may occur during your business’s operation. This policy covers property damage, legal liability, and employee-related risks.
Business insurance follows the same principles for small businesses. It protects the business’s assets, properties, and income. It can also help protect your business against some specific risks that are unique to your operations.
There’s no specific amount that a business must pay for a business insurance policy. However, if you are a sole proprietor, you may need to pay $500 annually for the policy.
When choosing business insurance , you need to start by assessing your risks, finding a reputable licensed insurance agent, and getting a suitable policy. It would help if you also reassessed the policy every year.
Farm insurance covers personal property directly related to your farming operations. It can typically be broken down into three distinct categories: farm machinery and equipment, livestock, and farm products such as seed, hay, animal feed, fertilizers and pesticides. You can either select a broad coverage or choose individual items to be protected.
Most farm insurance can be insured for $15 per $1000 of value, but this amount will differ as per your deductible. For example, say you have a tractor valued at $500,000. It would cost roughly $7,500 per year to insure it against covered perils.
This policy will exclude coverage of land, water, and other rented structures to non-tenants of the dwelling. Note that this coverage will cover the personal property of the insured and their family members as long as they are in their insured location.
A disability questionnaire must be answered as specifically as possible. Try not to go off the subject in the questionnaire and be specific about your limitations. Also, ensure that you are ready to explain gaps in your medical history without feeling embarrassed about it.
Social Security Disability may ask questions that try to evaluate your illness’s severity and whether it’s expected to improve. You may be questioned on your ability to care for yourself or perform the required daily activities.
The most approved disability for insurance includes cancer, cardiovascular diseases, joint disorders such as arthritis, respiratory problems such as asthma, and so on.
Liability insurance focuses on protecting you against claims from injuries and damages to individuals and property. It covers legal costs and payouts in which the insured party may be found liable.
The liability insurance covers damages that you do to others, while the full coverage deals with both your liability and property damage to your car.
Liability insurance protects both you and the injured party from unforeseen events that result in harm to the body, property, business, or reputation. Liability insurance can be of different types, including auto, homeowners, professional, and business coverage.
Some significant examples of personal property include your boats, furniture, vehicles, and collectibles. Note that a personal insurance policy may also cover intangible items, like bonds and stocks.
The two significant forms of property insurance include individual and corporate insurance. Both individual and corporate insurance help cover properties that are owned by an individual or an organization.
Property insurance excludes the damages that result from events like floods, drains, tsunamis, and standing water. Note that mold-related repairs and other maintenance costs are not covered by this policy.
Workers’ compensation doesn’t cover business owners, volunteers, independent contractors, and railroad employees.
The four major types of workers’ compensation benefits include disability benefits , death benefits, supplemental job displacement benefits, and medical treatment benefits.
According to the Equal Employment Opportunity Commission (EEOC), an employer may ask questions about an applicant’s prior workers’ compensation claims after they have made an offer of employment.