Page 3 - AAA Now! – AAA Northway – Fall 2021

INSURANCE SERVICES
of “separate residences” can vary by insurer. Most insurers encourage young people who have moved out to purchase a separate auto policy.
If you rent a home — Consider a renters insurance policy. Your landlord’s policy likely only covers
the building and the land — not your personal property inside. Most renters insurance policies provide coverage for your belongings whether you’re at home or away. They also include loss
of use, which helps you financially if your home becomes inhabitable, as well as personal liability coverage, which generally protects you against lawsuits.
If you buy a home — Start shopping for home insurance once your new home has been appraised. While homeowners insurance isn’t required by law, every mortgage lender requires it. Based on the state you live in, be aware that your credit score may impact your premium.
If you buy a second home — You may be able
to extend the liability portion of your existing homeowners policy to your second home. However, talk to your insurance agent about setting up a second homeowners policy to protect the structure and your belongings — especially if you plan to rent the home out. You also may want to consider
a personal umbrella policy for extra protection against lawsuits.
If you buy a car — After making a verbal or written sales agreement to purchase the vehicle, call your insurance agent — you’ll need insurance to drive
it home. Make sure you know the VIN, mileage, make, model and trim, all of which can affect
your premium. Before purchasing collision and comprehensive coverage, ask about the value of your car. If you have an older car with low market value, the cost of these coverages may outweigh the benefits.
If your commute changes — If you are no longer commuting or have cut back on driving, talk to your agent to see if you can have your auto premium reduced.
If you upgrade your property — Consider adjusting your homeowners or renters policy,
or purchasing an umbrella policy, if you bring additional valuable belongings into your home.
If you remodel or renovate your home, or add amenities such as a pool, talk to your agent to have your homeowners policy adjusted accordingly.
If you start a business — Be aware that your homeowners, renters or auto policy may not adequately cover you when you use your home or car to conduct business. Talk to your insurance agent to make sure you have the coverage you need.
DOWNSIZING AND RETIREMENT
The later years in life are a great time to simplify. If you experience a shift in lifestyle or reach a certain age, consider giving your insurance agent a call.
If you downsize your home or reduce your personal property — Talk to your insurance agent to see if your coverage needs to be adjusted. If your car is aging and has a low market value,
talk to your agent about whether collision and comprehensive coverage outweigh the benefits.
If you retire — Ask your agent if you qualify
for a discount on your homeowners or renters insurance. If you drive less than before, you may be able to have your auto insurance premium reduced based on the state you live in.
If you’re a mature driver — Be aware that
your auto insurance rate might increase even
if you have a clean record, as senior drivers are statistically more prone to accidents. However, discounts are available for those that complete a DMV-approved course for mature drivers, so talk to your agent.
To make sure you have the coverage you need, talk to your local AAA insurance agent or visit AAA.com/Insurance.
We can handle all your insurance needs
As a member of AAA, you could save hundreds of dollars
Auto • Home • Boat • RV • Motorcycle • & more
Call today to learn how you may be able to save with your AAA discount.
Jeff Houghton Saratoga 518-831-1864
Ken Perinsky Vestal 607-338-1199
Stacy Gleason Queensbury 518-824-3808
Josh Cseh Schenectady & Halfmoon 518-831-1871
Dennis Horton Amsterdam 518-831-1869
Schedule an appointment with an agent by phone, in-person or video call
1-866-222-0937 | AAA.com/Insurance
AAA Insurance is provided through Club Insurance Services LLC, which offer products through AAA-affiliated companies and non-affiliated companies.
FALL 2021
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