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Amity Insurance emphasizes importance of new car insurance

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QUINCY, MA ISSUED JULY 27, 2012…While the cost of a new car may stretch a households' budget, skimping on insurance could cost more in the long run, according to Amity Insurance Agency, Inc., the region's leading full service agency.

In the hope of saving money, some new car owners may opt for liability coverage alone, even though it may not be adequate coverage. Although it may satisfy a state's legal minimum requirements, mandated liability coverage will not be enough to compensate for most accidents; therefore it's wise to have an auto insurance policy that goes beyond state mandated liability limits and that covers accidents, theft and natural disasters.

When looking for coverage on a new vehicle, consider the following:

Shop around: Start comparing various policies prior to purchasing the car, beginning with obtaining quotes from several agencies. These quotes cost nothing and offer a reasonable estimate of premium amounts.

Comprehensive and collision insurance: Comprehensive coverage protects vehicle owners from a wide array of incidents aside from collisions, including natural disasters. Collision insurance provides money for damages resulting from an accident; the funds are available whether the vehicle owner is at fault or not. When compared with the cost of paying for damages out of pocket, insurance is quite affordable.

Consider GAP insurance: Many new car owners prefer this type of insurance as it provides funds for the difference between the vehicle's market value and the unpaid loan amount. If a vehicle is lost or stolen, there will be adequate compensation. GAP insurance could be a good choice for those who own an expensive luxury car or have sizeable loans to repay…or in general when the amount of money owed is higher than the vehicle's market value. It may also be less expensive to purchase through your own agent than through your car dealer.

About Amity Insurance

Amity Insurance Agency, Inc. is a full-service agency dedicated to meeting your business, professional and personal insurance needs.

Amity Insurance is licensed in most states. The agency maintains headquarters at 500 Victory Road, North Quincy 02171. For information on products or services, please visit or call (800) 940-4010 to schedule a free analysis.