Accord Car Insurance

Last Updated on November 19, 2023

Auto insurance in Accord, NY, like in other parts of New York State, is influenced by several factors, including state regulations and broader market trends. Here’s an overview of the current landscape of auto insurance in this region:

State Regulations for Auto Insurance in New York

In New York State, including Accord, NY, there are specific minimum requirements for auto insurance coverage:

  • No-Fault (Personal Injury Protection) Coverage: This is designed to pay promptly for medical expenses, lost earnings, and other necessary expenses for those injured in an auto accident, regardless of who is at fault. The basic No-Fault coverage is up to $50,000 per person​
  • Liability Insurance: This covers third-party bodily injuries and property damage from an accident involving the insured vehicle. The minimum limits are $25,000 for bodily injury per person, $50,000 for death per person, and $10,000 for property damage per accident.
  • Uninsured Motorist Coverage: This is mandatory and covers bodily injuries caused by uninsured drivers or hit-and-run accidents. The coverage amount is similar to that of liability insurance​

Notably, continuous insurance coverage is mandatory as long as you own a car. The New York Department of Motor Vehicles monitors insurance coverage through an electronic database, and failure to maintain coverage can result in significant penalties.

Local Auto Insurance Agents

*We are not affiliated with any of the agents listed below

Stone Ridge Insurance Agency
3650 Main St, Stone Ridge, NY 12484
(845) 687-2828
Foremost, Kemper, Safeco, Union Mutual

Anthony Moraca
57 N Chestnut St, New Paltz, NY 12561
(845) 255-9158

The Devine Agency
58 N Chestnut St, New Paltz, NY 12561
(845) 255-7806
Encompass, Erie, Foremost, MetLife Auto & Home, NY Central Mutual, The Hartford, Travelers, Union Mutual

Costas & Tate Insurance Agency
85 S Chestnut St, New Paltz, NY 12561
(845) 256-8866
Foremost, NY Central Mutual, The Hartford

The Valley Group
101 Main St, New Paltz, NY 12561
(845) 255-0300

The Naccarato Insurance Agency
108 Main St Ste 2, New Paltz, NY 12561
(845) 255-5715
Selective, Sterling – Wiedenkeller Insurance Agency
171 Main St, New Paltz, NY 12561
(845) 255-7777
Foremost, MetLife Auto & Home, The Hartford, Union Mutual

Peter Rubin
155 Main St, Gardiner, NY 12525
(845) 633-8600

Fraleigh & Rakow
120 Main St, Gardiner, NY 12525
(845) 633-8505
NY Central Mutual, Sterling

Ulster Insurance Services
226 Main St, New Paltz, NY 12561
(845) 255-5470
NY Central Mutual

Trends Impacting Auto Insurance Premiums

  • Severe Weather Events: The increased frequency of severe weather events, such as floods and hailstorms, is leading to higher insurance payouts and, subsequently, higher premiums for policyholders​.
  • Labor Shortages: A shortage of mechanics has extended repair times for vehicles, increasing rental coverages and claim costs, thereby impacting premiums​.
  • Economic and Social Inflation: The rising costs in the auto repair industry and negative public attitudes towards big businesses have led to increased litigation costs and larger claim settlements, contributing to premium increases​.

Ways to Offset Increasing Premiums

  • Bundling Policies: Combining auto insurance with other insurance policies like homeowners insurance can lead to savings.
  • Low Mileage Discounts: Driving fewer miles can qualify for discounts, especially for those who work from home.
  • Paying Premiums in Full: This can save money as opposed to installment payments.

Future Outlook

Experts suggest that while the auto insurance market might stabilize, premium rates are unlikely to return to pre-pandemic levels. The trend indicates a more modest pace of increase in the future.

In conclusion, residents of Accord, NY, should consider these factors and trends while choosing their auto insurance policies. It’s also advisable to consult with insurance agents to understand the best options that meet their specific needs.