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Twin Bridges Insurance Agency

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Twin Bridges Insurance Agency

1881 Western Avenue, Suite 210
Albany, NY 12203

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Monthly Archives: September 2024

If I Pay For My Home In Cash, Do I Have to Get Home Insurance?

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If you’re stepping into homeownership for the first time, you will likely have questions about when and why home insurance is required. You may have heard that you are required to have home insurance under certain circumstances. This is indeed true!

Our NY Twin Bridges Insurance Agency team in Albany, NY, is here to assist you. If you’re obligated to have home insurance, we can guide you through the process. Working with a wide array of carriers, we help homeowners find the coverage that best matches their needs. Here’s what you need to know. 

Home Insurance Isn’t Required If You Pay in Cash

If you’re obtaining a mortgage to finance your home, you will be required to secure home insurance. Your mortgage lender will mandate this as a prerequisite for your loan. Commencing your shopping for home insurance early in the home-buying process ensures you’ll be ready to acquire your loan when it’s time.

If you have a home loan, you must maintain home insurance. If your home insurance policy lapses during this period, your mortgage lender may insist on you subscribing to their home insurance policy as an alternative.

Why You Should Consider Getting Home Insurance Anyway

Even if you’re paying in cash, there are a multitude of benefits to having a home insurance policy. Home insurance policies can offer recovery assistance following a covered event. Home fires and burglaries can cause significant setbacks, but recovery is much more manageable with a robust home insurance policy in place. To kick-start your home insurance experience, call NY Twin Bridges Insurance Agency, serving Albany, NY. Get in touch with us today.

Buying a Car? Shop Around for Auto Insurance First!

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Are you planning to purchase a car? Have you commenced your search for auto insurance yet? If not, now is the right time! At the NY Twin Bridges Insurance Agency in Albany, NY, we can assist you throughout this journey.

Securing the right auto insurance policy is a vital element of the car-buying process. Starting your insurance exploration before picking your vehicle gives you an ample buffer to find the most suitable policy for your specific requirements. Here’s what you should know about procuring auto insurance for your new car.

Is Auto Insurance a Legal Necessity?

Auto insurance is generally obligated by law in most states. The usually required ‘liability only’ coverage is designed to protect other drivers on the road. This kind of insurance will repair or replace the other driver’s vehicle if you’re at fault for an accident. However, it doesn’t cover repair costs for your vehicle.

Furthermore, if you plan on getting a car loan, your lender will ask for full coverage auto insurance. Knowing if you’ll be securing a car loan ahead of time allows you to rummage around for apt policies before you begin car shopping.

What Does Full Coverage Auto Insurance Encompass?

Full coverage auto insurance provides coverage in several ways. For example, if your car is involved in an accident, your insurance can pay to repair it, regardless of who’s responsible. Full coverage auto insurance also covers the repair costs if your car is vandalized. In the unfortunate event of your vehicle being stolen, your insurance will pay to replace it!

Want to delve deeper into auto insurance? Ready to explore options before you zero in on your dream car? Contact the NY Twin Bridges Insurance Agency professionals, serving Albany, NY. Reach out today to learn more.