NY Auto Insurance
NY auto insurance is required for all registered vehicles in the state. Not only is it a legal requirement, but a vital and practical one – drivers know the potential mishaps that can occur while driving, and how the damages and costs that are incurred in the event of an accident can be detrimental personally or professionally.
By purchasing NY auto insurance, you guarantee peace of mind that should something occur, you will receive financial protection from the expenses that can quickly add up. Such expenses can range from people to property; damage to your vehicle, damage to another vehicle, personal injuries, passenger injuries, and fatalities. While all such events are unpleasant realities to discuss, the potential for them to happen is enough to motivate and be prepared in the event of an accident.
As of 2009, NY state law requires a minimum of $25,000 to $50,000 for injury, $50,000 to $100,000 for death, and $10,000 for property damage. $50,000 of PIP, short for Personal Injury Protection, is also required to cover medical costs, lost wages, and other miscellaneous expenses that may materialize due to an accident. A minimum $50,000 Uninsured/Underinsured Motorist coverage is needed to protect you from damages cause by an uninsured driver. Finally, every person who carries NY auto insurance must also have personal medical insurance to ensure that basic medical costs will be covered, regardless of who is at fault in the event of an accident.
New York is a ‘no-fault’ state, which means that your insurance company is required to make payments for your medical bills regardless of who caused the accident. Victims benefit from fast action, and the driver at fault would incur a higher premium. Drivers should note however that insurance companies will only pay up to the maximum coverage, so making sure that you purchase the right amount is crucial.
If you do not purchase adequate insurance, or if you allow your insurance to expire during a time period when the vehicle is in use, you are in danger of having your license suspended. The Department of Motor Vehicles will require proof that you do have the right amount of coverage or else will demand that you surrender your license plates. If you do not comply, your license will be suspended for the number of days that you did not have NY auto insurance, and you will be charged with a $25 fee to have your license reinstated – after you prove that you have adequate insurance coverage of course.
But that’s not all – in the case of an accident, you will be liable for all legal, damage, and medical expenses if you are found at fault by the court. You may not only lose your right to drive, but the monetary expenses can skyrocket and leave you in financial ruin. This is a risk that can be avoided with the right NY auto insurance, and choosing the best coverage limit that applies to your situation.
Driving for personal reasons is one of the most common motivators among drivers in New York. No matter what you use your car for – commuting to work, driving to the store, dropping children off at school – every situation is an important one that comes with a certain amount of dangers. If you are a commercial driver, or own a business that utilizes vehicles as part of work, you will need to evaluate your risk, and choose the right amount of standard coverage. From that point, you will also need to look into other forms of business or contractors insurance to add to your coverage.
Finding the right insurance requires assessing your own needs, and consulting with a reliable source to match you with the comprehensive insurance than not only covers your potential liabilities, but is affordable. Contact an independent agent that can offer a free quote, and advise you with the NY auto insurance information you need to make the best-informed decision.
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