I have the minimum liability insurance in Albany, New York and yesterday my vehicle was stolen, can I get something from my car insurance carrier?

Tony

Albany, NY

It is unfortunate that your vehicle was stolen but the minimum liability coverage that you have will not cover your stolen vehicle in Albany, New York. You need the physical damage of comprehensive coverage on your car to be covered by your insurance provider.

If your vehicle is stolen comprehensive coverage will also provide a certain amount per day for transportation expenses such as rental car, public transportation, depending on the what the terms on your car insurance policy. In general, this car insurance coverage is provided until the time the insurance carrier makes an offer to settle your car insurance claim.

Since you did not have comprehensive coverage on your vehicle there is no coverage on your stolen car and so your insurance carrier will not compensate you or be required to assist you with the vehicle that was stolen in any way.

A: The first thing I would do is to cut my coverage on the policy to as low as is legal. Since you hardly use your car, you don’t really need to be worried about the risk of having low coverage amounts.

After that, see if your car insurance company has a low mileage discount which can be applied to your SR22 premium. Low mileage discounts are amazing for people in your situation, and they can often take between five and twenty percent off of your premium, depending on who you’re insured with. Usually the requirement is that you drive less than five thousand miles a year, although some companies have it at forty miles a day. Call your car insurance company to see how they measure it.

Another thing that might score you a five percent discount is your use of public transportation. Not very many companies have a discount for this, but some do and it doesn’t hurt to ask.