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Twin Bridges Insurance Agency

1881 Western Avenue, Suite 210
Albany, NY 12203

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Five Things Nobody Tells you About Homeowners Insurance

There are a few lesser-known coverage options and hazards that policyholders may or may not realize. Our team at NY Twin Bridges Insurance Agency in Albany, NY, offers these five things to be aware of regarding homeowner’s insurance.

1. Home Policies Have Exclusions and Special Limits

Every policy has certain exclusions, like earthquakes and floods. Some may have limitations on watercraft, mobile homes, jewelry, and other items. Supplemental policy add-ons can cover some of these.

2. Most Insurance Policies Don’t Cover Water Damage

Some insurance policies cover water damage that originates inside the home due to storm-created openings. However, water due to flooding or broken water mains isn’t and may require investing in separate flood insurance.

3. Your Coverage Amount Isn’t the Same as the Cost of Your Home

Your coverage may not equal what you paid or its market value, which is a common misconception. Should your house need to be rebuilt entirely, you may need extra coverage for materials, labor, and debris removal.

4. Inform Your Insurance Company About Updates and Changes to the Home

Remember to update changes with your agent if you’ve put on a new roof, renovated rooms, or installed an alarm system. Depending on your work, you may need extra coverage or a rate reduction.

5. Choosing the Cheapest Policy Isn’t Always the Best Option

Even frugal shoppers have discovered that sometimes you get exactly what you pay for. When comparing insurance quotes, keep in mind that cost is not always the best indicator of the right coverage for you.

Get Answers to Your Home Insurance Questions

Here at NY Twin Bridges Insurance Agency in Albany, NY, we are happy to clarify your policy and address any questions or concerns you have about your policy. Our agents can ensure you have the right coverage for your needs.

Explaining Liability Auto Insurance and the Importance

Liability auto insurance is a fundamental component of car insurance policies around Albany, NY. It provides adequate coverage for physical and vehicle damages in accidents for the other driver or vehicle. It allows you to cover the resulting expenses without losing everything.

Risks of Non-Compliance

Without liability auto insurance, drivers risk facing substantial financial liabilities in vehicle accidents without help. Medical bills, property damage repairs, and legal fees can quickly escalate, potentially leading to bankruptcy or severe economic hardship. 

Types of Liability Coverage

Physical injury and property damages are the two primary areas of focus in liability auto insurance. Bodily injury liability handles medical expenses, legal fees, and lost wages for the other party when a driver is at fault. Property damage liability handles the cost of the damages from the accident for the other vehicle when the driver is at fault.

Legal Requirements and Consequences

State laws often mandate minimum liability insurance requirements for drivers to ensure they can cover the costs of potential accidents. If any driver fails to follow the state laws, fines, license suspensions, and legal consequences follow. Thus, maintaining adequate liability insurance isn’t just a matter of financial prudence; it’s also a legal obligation.

Peace of Mind and Responsible Driving

Liability insurance gives drivers peace of mind, knowing they have protection in case of unforeseen accidents. Drivers can go about their business without worrying excessively about the financial ramifications of a potential collision. In essence, liability auto insurance is not just a choice but a crucial investment in economic security and responsible driving practices.

Let NY Twin Bridges Insurance Agency Give You Information

NY Twin Bridges Insurance Agency helps answer your auto insurance questions and takes care of the Albany, NY region. Call us today to get the most updated information.