Our Pawling Agency's Guide to Motorcycle Insurance

Our policy features 

New York State law mandates that all motor vehicles that operate on public roads must be registered insured.  This includes motorcycles, trikes, buggies, or any other vehicles driven "on-road."

Choosing the right motorcycle insurance is a lot like choosing the right bike. You want a policy that meets your needs and fits your lifestyle, but at the same time is within your budget.  That's where the Tanner-Prince Agency can help. 

Many motorcyclist fail to recognize the importance of a solid specialty policy.  In fact most riders are unaware of the pitfalls of New York motorcycle insurance.  We've found that most riders just assume that they have full coverage when in fact they do not.  Another common assumption people make is that their policy works just like their car insurance, this is false and can lead to major financial shortcomings if something goes wrong when your out for a ride.

 

Bikers are not covered under the normal New York State no-fault law. Therefore motorcyclist are not protected by a normal personal injury protection plan (PIP) like automobile drivers.  This is important because it means riders are not entitled to medical and lost wage benefits. To protect you in the event of a motorcycle crash we strongly recommend an accident policy to all riders.

Motorcyclist personal injury protection

PIP coverage is required for motorcycles in New York State, however it only applies to pedestrians hurt in accidents caused by riders.  Occupants of a motorcycle are not eligible to receive PIP benefits, but, do retain all their rights to sue for non economic (lost wages) damages. Some insurance companies do offer PIP benefits for passengers of motorcycles.

Liability Coverage

This coverage protects you against bodily injury and property damage liability claims against you.  If you cause bodily harm to someone else or damage another persons property in an accident, and are found responsible, you could be looking at a large settlement.  Make sure you have the proper amount of coverage, and make sure your passenger is covered in the event that he or she is injured while riding on the back of your motorcycle.  Ask your agent about New York State laws pertaining to this specific coverage.

Collision Coverage

This is an optional coverage that is essentially the same as the collision on your auto insurance policy.  If your bike is damaged in an accident your insurance company will replace it with one of like or kind quality, or, most likely pay you the actual cash value of your bike minus your deductible.  Keep in mind that most policies will only cover the factory parts on your bike.  If you have an aftermarket or upgraded parts such as chrome or a special paint job be sure to ask your agent about optional coverage.

Comprehensive Coverage

Another optional coverage, comprehensive will pay for damages caused by an event other than a collision.  This provides protection for events that are out of our control.  For example: theft, fire, hitting a deer, or vandalism.

Tanner-Prince Motorcycle Policy Features

-Accident waiver

-Optional or added equipment

-towing and labor costs

-gap protection

-rental reimbursement

Discounts We Offer

Think you qualify for a break on your insurance premium?  We'd be happy to help you save money while still giving you the protection you need. That's why we offer some of the best discounts in the industry.  If you call for a quote make sure you ask about all the discount you may qualify for.

-Multiple bikes

-Multiple policies

-Good rider discounts

-Transferring your policy from another company

-Motorcycle organization members discounts

-Safety course discounts

Motorcycle safety tips

New York Boat Insurance Information

Whether you like sailing the hudson, fishing your favorite spot, or just cruising the open waters pleasure boating can be one of the summers most enjoyable activities.  But boating also brings with it certain inherent risks that boat owners and operators need to be aware of. Thats why we're to help guide you through the process of insuring your boat, motor, and trailer.

Keep in mind that New York State does not require all boats to have insurance. This means there is a greater possiblity of being involved in an accident with an uninsured boater. Also keep in mind that some marinas and docks will require you to maintain a personal insurance policy.

At the Tanner-Prince Agency we'll show you what coverages are available and how to get the personalized protection you need.  Whether you have been boating your whole life or just getting started, it's a good idea to take a look at your marine insurance options.

Boat coverages and features

Equipment and accessories

Boat insurance covers more than just your hull and physical structure of the vessel. What about all your other equipment such as the anchor, personal flotation devices, navigation instruments, and everything else used to operate your boat?

That's why theres equipment and accessories coverage available. When you elect to get physical damage coverage your equipment and accessories are automatically covered for up to ten percent of your watercrafts value.  If you need more coverage than that you can always increase that ten percent to whatever you feel is neccessary.

Emergency service

What if something goes wrong when your on the water? That's where the emergency service coverage comes in.  If you need a tow, or to cover labor costs at the place you break down your in luck if you have a boat insurance policy. Did you run out of fuel or have a battery die? We can help you with that too.

Wreck removal

If your personal watercraft is damaged, destroyed, listing, or otherwise needs to be removed from its location your policy will typically be covered for up to an additional 5 percent of your physical damage coverage limit. Make sure you thorougly investigate the value of your boat and discuss it with your agent so you can decide how much physical damage coverage you need.

Personal effects coverage

This coverage is for non-boating-equipment. You probably paid a considerable amount of money for your waterskiis, fishing gear, and other equipment. Make sure that you have the corrent coverage for these items if your require it. Also be sure to talk to you agent about what items are specifically exluded from these coverages. For example pets and contact lenses are often times excluded.

Our Pawling insurance agency offers the following personal insurance products:

flood insurance

Who needs landlord property insurance?

If you are insuring a home that you do not live in, you need a landlord property insurance policy. If you have a tenant occupied dwelling and it is covered by a normal homeowners insurance policy, you are asking for trouble. Homeowners policies are only intended for owner occupied dwellings. Having a homeowners policy on a tenant occupied dwelling provide you no coverage for you money as the insurance company will not have to honor the insurance contract.

How does a landlord policy differ from a homeowners policy?

Landlord policies offer similair coverage as a homeowners policy with a few added benefits. First, landlord policies provide a coverage known as Fair Rental Income. This coverage will reimburse landlords for lost rental income caused by a covered peril or loss.

For example, if a tree falls on the roof of your rental property and causes extensive damage that takes two months to repair, your insurance company would reimburse you for the two months lost rental income due to the damage caused by the tree. 

They will not however, reimburse you if a tenant simply moves out or the building becomes unoccupied.

 What is not covered by a landlord insurance policy?

Your tenants property and liability are not protected by a landlord policy. 

For this reason we recommend all landlord have an explicit clause in their lease agreement requiring tenants to hold their own renters policy. Renters policy are extremely cheap, often costing only $100 a year, and provide liability and personal property protection for people who rent their home or apartment.

manufactured home insurance

Who Needs Motor Home Insurance Coverage?

Its travel time...start up the motor home and hit the open roads. It's great to have the ability to drive wherever you want to get to, bringing along the comforts of home. That's what having a motor home has done for millions of Americans.

But what about insurance for the things that you bring with you, have you made sure you have adequate motor home or trailer insurance? While camping having the comfortable luxuries of furniture, cookware, TV's, and even your computer right at your fingertips makes for a nice vacation. Unfortunately though, by not knowing what coverage's you have or need may leave you without adequate coverage for your belongings. Each year your insurance agent should review your policy with you to make sure that you are ready to hit the roads—fully covered!

You Do Need a Motor Home Insurance Policy

A general practice for RV owners is to insure their RV under their current auto policy instead of purchasing a separate motor home insurance policy. This works, in general, if you are towing your vehicle and if you currently have coverage on your domicile..ie your home, condo, apartment, whatever the case maybe.

But if you do not, your contents may not be covered under your policy. Generally, auto policies cover the RV for physical damage and liability only, leaving the very things that make R'ving the fun that it is uncovered, your comforts from home. In many instances, RV's covered under auto policies are not adequately covered. Check with us to be sure.

Feel free to contact us today if you have any questions about insuring your motor home. Or, if you're in the hudson valley stop by our Route 22 office, in Pawling.

Why do I need an umbrella policy?

It is a common misconception that umbrella policies are only for wealthy people who have a lot of assets to protect.  The aim of this article is to explain why this type of policy is not just for the wealthy, and why this common misconception could endanger you and your family.  

Without a personal umbrella policy (PUP) your essentially driving around with everything you own in your trunk. This includes all of your assets and investments, even your home.  The fact is accidents do happen.  And, in many cases accidents result in lawsuits that can cost you time and money.  That's why a majority of people choose to have a personal umbrella policy in place to fill in any gaps in coverage. 

It is very important to remember that NY State is a wage garnishment state. If you don't have enough assets to cover another person's awarded damages you will have a portion of your income garnished until the debt is paid in full.

The reasonable cost of a one year PUP policy is more than worth it when you consider what you have at risk.  In fact, most people never consider have cheap a policy with one million dollars in coverage might be. 

When might an umbrella policy come into play? 

If a neighbor slips and falls on your property they can sue you.  If a weather related mishap occurs on your property, or you're involved in a major traffic accident you're also at risk of being sued.  If your auto or homeowners liability coverage does not offer enough protection to cover expenses related to one of these situations the consequences could be disastrous.

But I don't have any assets to lose, why should I have a PUP?

Even individuals with little or no assets, including young adults, should think about purchasing PUPs.  Consider this: If you're 25 years old you most likely have 30-40 years of potential future income remaining.  If you earn $40,000 a year thats $1.6 million dollars in lifetime earnings at stake.  What if you're found at-fault in an auto accident?  With the rising costs of medical care today, what you would be responsible for if you injured someone in an accident could easily go beyond what your home or auto policies cover.  Tort rewards often exceed $1 million, effectively limiting your future income to less than half.  In fact, its not uncommon to see a jury award $20 million dollars these days. 

Many people purchase an affordable PUP simply because they want peace of mind knowing that if an unfortunate accident happens, and the liability limits of their other policies are maxed out, their home, assets, and future earning potential won't be taken away if they're sued.

Worried? Well you should be.  Americans these days have a propensity to sue.  Almost everyone I know has had to face a lawsuit of some type over the course of their lives.  Because of the nature of the society we live in, you can't afford to not have an umbrella insurance policy. 

How an umbrella policy works

Umbrella policies usually come into effect after your auto or homeowners liability limit is exhausted.  For example: lets say you have liability limits of $300,000 on your homeowners policy, and a $1 million dollar umbrella policy.  If someone is injured on your property and a jury awards $800,000, your homeowners policy would pay the first $300,000 (less your deductible), and your umbrella policy would pay the rest. 

 

 

Why do I need renters insurance?

Are you under the impression that your landlord's insurance policy will cover your personal belongings if your apartment or a neighbors apartment catches fire?  What if the apartment above you has a serious water leak and it causes damage to your possessions?  Who's going to pay to replace all your things if smoke damage, water damage, or theft occurs at your residence?

Unfortunately for the majority of renters the answer is the money will have to come out of their own pocket.  That's because the majority of landlord's policies don't pay to replace any of the renter's belongings. You may not own the building but you have a lot of money invested in your personal property.  Think about it, could you afford to replace everything you own today?  Your clothing, furniture, jewelery, electronic equipment, and anything other possessions would add up to a hefty sum for most people.  Covering your own possessions is up to you.

Ok, so how does renters insurance really protect me?

A renters insurance policy from the Tanner-Prince Agency can help protect you against life's most unpleasant situations.  Let's face it, things happen and if your not prepared ahead of time the end result could be a financial disaster.  A renter's insurance policy will protect your personal property from fire and smoke damage, theft, and vandalism.  And, much like a home or auto policy they also provide you and your guests liability protection. 

Here is a rundown of the coverages offered in a basic renters policy:

Personal Property Protection: covers the loss or damage of your personal belongings in your home and most other places

Liability Protection: protects you against lawsuits and judgements for covered events, provides legal representation

Guest Medical Protection: similar to a homeowners policy, covers the medical costs for visitors injured at a renter's home

How can I save money on my renters insurance policy?

When your looking for the right company to write your renters insurance the first thing you might ask yourself is, who has the cheapest renters policy?  Let our agency figure that out for you, but in the mean time read on for some tips on how to keep your policy premium as low as possible.

One of the best ways to save on your renters policy is to write both your auto and renters policies with the same company.  This isn't rocket science, but the savings can really add up. For example you will also receive a multi-line discount on your auto policy, increasing your savings even more.  Some renters will also qualify for protective device discounts if they have features such as smoke detectors, fire extinguishers, dead bolt locks or a burglar alarm.  There are also savings available for retired renters as well.

If your in the market for renters insurance be sure to call the Tanner-Prince Agency first. We will work together with you and review all of your options, not push you into purshasing a policy you know nothing about.  We will also perform a personal property estimate to determine the right coverage amout for you.