Before a vehicle can be registered in the state of New York the owner has to provide certain auto insurance coverage before license plates can be assigned. Insurance companies are required to provide information on all their policies as a means to crack down on uninsured motorists and vehicles. Owners of uninsured motor vehicles are penalized with fees and can include the revoking of their driver’s license or vehicle registration or both.
Minimum Car Insurance in New York
If you’re in an auto accident and your found to be at fault, then you’re held accountable for taking care of the medical expenses of the other driver and any damage that may have occurred such as, vehicle repair, and personal property. In New York you must have Liability Insurance, No-Fault-Personal Injury Protection-(PIP) and Uninsured Motorists.
Liability Insurance covers any property damage or bodily injury you may be liable for, $25,000 per person bodily injury or $50,000 for any injury that is the cause of death from an accident, $50,000 multiple person injury coverage or $100,000 total coverage of multiple deaths, and vehicle or property damage coverage of $10,000.
No-Fault-Personal Injury Protection pays medical and lost wages as a result of injuries suffered from an auto accident despite who was at fault in the accident, bodily injury coverage per person in the vehicle of $50,000 as well as any pedestrians hurt by the vehicle.
Uninsured Motorists coverage protects you and your passengers from an accident taking place in New York State if the person who was found to be at fault was uninsured, or if it was a hit-and –run accident. Any vehicle damage is not protected by uninsured motorist coverage.
New York Car Insurance Companies
There are many car insurance companies in the State, but some of the larger ones are, Geico, State farm, Progressive, Nationwide, AARP, and Travelers. There are too many auto insurance companies to mention here, and due to the very competitive nature of the auto insurance industry in New York, auto insurance rates can vary greatly from person to person.
New York Car Insurance Rates
Car insurance rates vary greatly from driver to driver due to a few factors that determine the rates. A persons driving record, marital status, driver age, a vehicle’s make and model all contribute in determining the rates. It is important to compare auto insurance rates in New York with different companies to get the lowest rates for the coverage you’re looking for.
Auto insurance is very competitive in NY, and the New York Department of Insurance advices people to obtain numerous quotes from insurance companies to find the best rates for your needs.
New York Rates
The typical auto insurance premium in New York is approximately $2,300 in 2010; the American national rate is approximately $1,500. There are people who feel the State of New York and insurance companies are fixing the rates, so these people don’t compare companies for better rates. Almost everyone can find competitive rates in New York by shopping around with the numerous auto insurance companies.