Why do I Need Insurance

So you are shopping for a new car. You find the right model and you are comfortable working with your dealership and salesperson. You negotiate an excellent deal and you are ready to pull the trigger. You are then asked by your salesperson, "Who is your insurance provider?" You then start to get nervous. You already worked out a budget in your mind, and you don’t want to deviate from it. Buying an insurance policy will, cost you even more money.

Insurance will cost you more money, but just think about the consequences of not having it. Insurance is defined as, "Coverage by a contract binding a party to indemnify another against specified loss in return for premiums paid." In other words, insurance is a way of protecting yourself from financial loss in exchange for a sum of money known as your premium. Let’s look at the following example. Your brand new car valued at $25,000 is stolen. You do not have an insurance policy on the car. You will now need to replace the car. Since you don’t have insurance, the financial responsibility of replacing it rests solely on you. If you had insurance you would be only paying your deductible which usually ranges between $250 and $500. So by having insurance you would be sharing the financial responsibility of replacing the car with the insurance company and it would cost you far less money. In most states it is mandatory that you carry at least minimum liability insurance.

An excellent website that can be used to obtain all different types of New York insurance quotes is www.nyinsuranceshopper.com Simply input your information into the three step quoting form, and within minutes you will have the most competitive quote at your fingertips. New York Insurance Shopper is also an excellent source for insurance related information and questions.

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