Insurance FAQs

Our team has been an insurance leader for over 20 years. We provide tailored insurance packages and strive to make the claim process as simple and stress-free as possible.

As the cost of living in New York increases, so does insurance rates. Policy prices are also influenced by the average cost of legal fees, medical bills, and auto body repairs in your state.

Your actions can affect how much you pay, too. For instance, if you add another vehicle or driver to your policy, your rates may go up.

As a rule of thumb, your life insurance coverage should be 5 to 10 times your annual salary. Apart from your income, other variables that could affect coverage amount include funeral costs, final medical bills, mortgage, college loans, and existing debts.

Insurance coverage is not one-size-fits-all. At the Drake Agency, we’ll take into account your family’s present and future financial obligations to come up with the right coverage for you.

A deductible is the agreed amount paid out of pocket by the policyholder on an insurance claim before the coverage takes over. It is established by the terms of your policy and can either be a specific dollar amount or a percentage of your total coverage amount.

For instance, if your policy states a $500 deductible, and you have a $5,000 claim, you need to pay the first $500 of loss before we cover the remaining $4,500.

Not necessarily. Whether your insurance rate increases after an accident may depend on several factors such as your driving record, whether you are found at fault, and the cost and severity of the claim.

We do offer accident forgiveness programs to keep your rates unchanged in the event of an incident. And yes, this advantage applies even if you are found at fault.

The first thing you should do is to contact the police. An officer can ensure emergency services are there to provide first aid or mitigate fires and oil leaks. A police report can also be helpful in filing your claim.

While you can’t prevent accidents and disasters from happening, you can manage risks and avoid financial ruin by getting insured. Insurance enables you and your family to prepare for anything that may occur in the future—be it injury, illness, retirement, property damage, or even death.

Start by filing an accident report with the authorities. Then contact your insurance agent as soon as it is safe to do so. We’ll walk you through the next steps and ask for complete documentation to ensure the claim moves quickly.