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Gates-Cole Insurance is an independent insurance agency with 10 locations in NY representing over 45 regional and national insurance companies. Our team of professionals has in-depth knowledge and experience in Auto Insurance NY, Home Insurance NY, Business Insurance NY, Boat Insurance NY, Motocycle Insurance NY and all other areas of insurance. We have a genuine interest in finding the right solutions for you. We would like to become part of your insurance program, and participate in the planned growth of your future.
Common Insurance Coverage Gaps
You've purchased auto and homeowners or renters insurance like a responsible consumer. However, you could have insurance coverage gaps that threaten your assets. Here are a few common ones that you should consider closing as you save money, protect yourself and gain peace of mind.
  1. Transportation Expense Coverage Your auto insurance covers medical expenses and liability. Does it also provide you with a rental car or other transportation after an accident? Transportation Expenses coverage can cost as little as $8 per vehicle per year and gives you access to a rental vehicle or other form of transportation. It lessens your stress after an accident and minimizes disruptions to your daily life.
  2. Personal Catastrophe Liability Coverage Also known as an umbrella policy, personal catastrophe liability coverage protects your assets if you are sued after an accident. It can cover any expenses related to a personal injury or liability lawsuit and any lawyer fees, hospital bills and related expenses you may incur. This coverage starts at $150 per year and provides priceless peace of mind for you and your family.
  3. Valuables Coverage The average homeowners insurance policy includes a $3,000 limit on personal items. Does that amount cover the replacement of your expensive electronics, jewelry, artwork and furs? If not, buy an endorsement or rider. It gives you extra coverage for valuables and protects your items if they are lost, stolen or damaged.
  4. Flood Insurance While you might not live in a high-risk flood area, one in five flood claims occur outside of high-risk flood areas, and an inch of water can cause major damage to your home and possessions. Protect yourself with flood insurance. In many cases, there's a 30-day waiting period for this coverage, so apply for it today and reduce your risk.
  5. Life Insurance Your group life insurance policy may cover you for twice your annual salary, but that money is probably not enough to cover your final expenses and care for your family. Purchase your own policy with a death benefit of six to eight times your annual salary. Investigate different types of life insurance policies and coverage amounts as you care for your loved ones.
  6. Outdated Insurance Polices You pay your insurance premiums on time so that your policies don't lapse. When was the last time you reviewed your coverage? Adjust your homeowners coverage after renovations or when you sell collectibles. Check your auto coverage, too, to ensure it's sufficient for your household vehicles and drivers. Policy reviews take a few minutes but can save your thousands of dollars and give you hours of priceless peace of mind.
Your insurance coverage protects your assets. Consider closing any gaps today.