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New York NY 10016
Phone: 917 612 7404
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 Auto: Frequently Asked Questions
1. How is my automotive insurance rate determined?
2. Why do rate quotes vary depending on the insurance company?
3. What is a deductible?
4. What is a premium?
5. If my car is “totaled,” do I get a new one?
6. Are other people who drive my car insured under my insurance policy?
7. Should family members be listed on my automotive insurance policy?
8. Can the driving record of my family members impact my ability to secure an automotive insurance policy?
9. Can the insurance company cancel my policy?
10.Can my automotive insurance company refuse to renew my policy?
11.If I cancel my policy, am I entitled to a refund of my premium?
12.What does uninsured motorist protection cover?
13.What do I do if I get in an accident with an uninsured motorist?
14.If I contact my insurance company about a loss but never collected any benefits, do they still consider it a claim?
15.Does my automotive policy cover car rentals?
16.What is an extended warranty?
Insurance companies utilize statistical history to determine the rates needed to cover any potential claims and business expenses. Several factors are used to determine you’re your specific rate, including but not limited to:

Your age
The make and model of your car
Your driving record
The car’s purpose
Where you drive
Where the car is stored
Your credit rating
An insurance company’s claim experience, the types of people they insure, and cost for doing business vary from company to company and may cause rates to differ - even by hundreds of dollars.
A deductible is the amount of each claim that you agree to pay before the insurance company provides compensation for any loss. In other words, the insurance company will pick-up the cost for any damages sustained minus the deductible.
A premium is the monthly amount the insured pays to the insurance company to keep their policy in force
Most automotive insurance policies provide actual cash value settlements. Actual cash value is based on the cost to replacing a stolen, lost, or damaged item with a new comparable item minus its deprecation it incurred at the time of the incident.
To ensure coverage, you should list those individuals on your policy who regularly use your car. However, in general, those who are given permission to drive your car are covered.
Any immediate or extended family member who is of driving age that resides with you, including parents, children, siblings, grandparents, and in-laws, should be listed on your automotive insurance policy. This protects both you and the insurance company particularly in the event of any unforeseen emergency situations.
The driving or accident record of any licensed family member in your household can affect whether or not the insurance company decides to insure your vehicle and the premium rates they offer you.
An insurance company can cancel an automotive policy if the insured fails to pay their monthly premium or if the insured’s license has been suspended or revoked during the term of the policy.
An insurance company has the right not to renew your policy as long as they provide a 30 day notice to the insured and include a specific reason for their refusal to renew.
In the event that a premium is paid and the insured decides to cancel the policy shortly thereafter, the insured is entitled to the unearned portion of the premium. In general, insurance companies determine the refund by prorating the premium amount over the course of the month and deducting any cancellation fees.
Uninsured motorist protection only covers bodily injuries sustained (while in your car or as a pedestrian) by a driver who does not have insurance or a hit-and-run.
If you should get into an accident with an uninsured motorist, contact you state’s Department of Revenue to enforce the financial responsibility laws of your state. Be sure to report any losses to your insurance company under the uninsured motorist portion of your policy.
Any inquiry about coverage in the event of a loss is still considered a claim and part of the insured’s claim history.
In regards to car rentals, policies vary depending on the insurance company. In general, automotive policies cover the insured when they are renting a car on vacation or during business travel.
An automotive extended warranty is a service contract on your vehicle between the warranty company and you. You pay the warranty company on an annual or monthly basis and they pay for any car repairs covered by the contract. Auto warranties are NOT insurance policies.


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