Paying off your vehicle is a huge accomplishment and one you should feel very proud of! At NY Twin Bridges Insurance Agency, we often hear from Albany, NY area clients asking about how their policy needs change once their vehicle is paid for. We are here to answer all your questions and help you determine which policy and coverage level is right for your needs.
You’ve paid off your car, now what?
Once you have secured the title for your vehicle, it’s always a good idea to notify your insurance company. They can update their records and remove your lender from your account.
If your lender imposed certain requirements, such as deductible level or collision coverage, you can review those stipulations and decide if they are still applicable to your situation.
You will also want to determine the Actual Cash Value (ACV) of your vehicle as your protection needs may have changed. Be aware, that it is not always a good idea to lower your policy coverage levels just because the car is paid off. Depending on the value of your car, you may want to adjust your coverage levels. Meeting with your local agent to discuss the new status of your vehicle and receiving their input about your policy is always a good first step. Be sure to get the information you need to make an informed decision.
Ready to find out more? Give us a call!
The team at NY Twin Bridges Insurance Agency is proud to be a resource for our Albany, NY area clients. If you have questions about your insurance needs, call or stop by today.
If it’s time to renew your auto policy, it makes sense to take the time to carefully review your policy. Additionally, you may want to consider upgrading to a policy that offers some beneficial add-ons. The team here at NY Twin Bridges Insurance Agency is here to help! Find out more today about the policy options that are currently available to drivers in the greater Albany, NY area.
Check out these policy add-on options
An auto policy can provide more benefits than just protecting your vehicle. If it’s time to renew your policy, you may want to consider one or more of the available add-ons.
- Roadside assistance – if you are involved in a mishap or your car breaks down, a terrible situation can be made less stressful with this important policy option.
- Car rental reimbursement – when your car is in the shop due to damage sustained during a covered event, you can get a portion of your car rental expenses reimbursed.
- Vanishing deductible – if you are a careful driver and go years without a claim, you may want to look into this option. The longer you go without a claim, the lower your deductible goes. After a few years, your deductible could be zero!
These are just a few of the add-ons available with some auto policies. If you want to find out more, meet with a local agent today.
Want to find out more? Call us today!
The entire team at NY Twin Bridges Insurance Agency is here to help all residents in the Albany, NY area get the protection they need. Give us a call or stop by our office today to find out more.