New York Auto Insurance
If you are a driver in New York, you will need New York auto insurance to operate any vehicle that you own. This is the law, and for your protection there is no alternative, and no way to get around it. As you learn about the requirements for driving in New York State, it will become clear why you need to choose the insurance agency that works best for you, and determine which policy is both effective for your needs and meets the demands of your budget.
The Basics
The New York State Department of Motor Vehicles is very clear about the necessity for insurance. Coverage must be obtained before registering a vehicle, confirmed by two New York State insurance identification cards that are issued to you by an in-state insurance company. The DMV retains one card while the driver keeps the other. Out-of-state insurance is not accepted in New York State.
Your proof of New York auto insurance is required to be with you in your vehicle at all times, much like your registration and driver’s license. Make sure that your insurance premiums are paid on time to avoid cancellation, and always make sure that your insurance has no expired. Also remember that insurance must remain active for as long as the vehicle is registered. Just because you’re not driving it currently doesn’t mean you can let the insurance lapse.
The Insurance
Liability insurance will protect you from the potential expenses that can result from an accident involving you and your vehicle. In New York State, the liability coverage works out to the following: for injury per injured person, a minimum of $25,000 up to $50,000; for damages to property, a $10,000 limit; for injury involving an uninsured driver, a minimum of $25,000 up to $50,000; for personal injury protection (PIP), $50,000. There are many additional coverage types you can choose, such as collision insurance, which can be worked out with your insurance company.
New York auto insurance ensures that the majority of expenses will not come out of pocket, and save you the financial burden that can compound the physical and emotional burden of an accident. As New York is a ‘no-fault’ state, insurance companies are required to pay medical costs of the insured without delay, no matter who may have caused the accident.
The Risks of Being Uninsured
There’s no pity on those who choose not to abide by the rules. If you do not insure a vehicle registered to you, you may not operate that vehicle. If you choose to do so and are caught, you will risk having your license suspended until you are able to comply with the insurance requirements, as well as pay a fine.
The monetary risk of not having New York auto insurance can be much more substantial. The aggregate cost of property damages, injuries, and court settlements against you – if you are at fault and are subsequently sued – can become so large that they would be impossible to pay on your own.
The Rates
Rates do vary from driver to driver. How an insurance company determines your rate is through a combination of many factors, from where in New York you live to how long you have been driving. Of course, the car itself is a factor, and so is your driving history, how many tickets you have received, and even your credit history can make a difference.
Every insurance company will perform a background check, so the first thing to do is to honestly assess your needs and goals before starting your search for the best New York auto insurance policy for you.
Finding the Right Insurance
An independent agent can review your basic information and determine which insurance companies and policies may be the best match for you. Going to the insurance company directly can saddle you with unneeded insurance and extra costs, and going to multiple companies to compare and contrast can be an unproductive use of your time. The best way to quickly and accurately understand the policy you need is through a knowledgeable professional partner such as an independent agent.
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