As a driver in New York, you are required to carry insurance on your vehicle. Here's what else you need to know in order to buy auto insurance in the state of New York.
Look for the best policy. When it comes time for you to purchase auto insurance in New York, be a smart consumer and look for a deal. By calling around to 3 or 4 different registered auto insurance companies in your area, you will get a few different quotes that will give you the opportunity to choose the best deal on coverage. If you don't know where to start looking for auto insurance companies to contact for quotes, look for advertisements in your local newspaper or phonebook. You can also look online at sites like http://www.allstate.com/ or http://www.statefarm.com/.
In New York, you can expect to pay around $1100 a year for auto insurance.
Make sure your policy meets the requirements. As with most states in the U.S., your auto insurance policy must meet certain liability coverage requirements. You'll need at least $25,000 for single bodily injury or death, $50,000 for all bodily injury or death, and $10,000 for property damage.
In addition, the state of New York requires that you carry an additional $25,000 / $50,000 for uninsured / underinsured motorists' coverage as well as $50,000 for personal injury protection (PIP). These minimum coverage amounts are required for all drivers in New York, no exception.
New York is a ‘No Fault' state, meaning that regardless of whose fault the accident was, insurance companies cover their own drivers. It is illegal to drive without insurance for this reason and others. If you are caught without adequate or up-to-date auto insurance in New York, you face fines, loss of vehicle and registration, and license suspension.
You are allowed to exclude drivers from your policy. New York law allows for the exclusion of drivers in your household from your insurance policy. Of course, these names will be listed in the ‘exclusions' section in your policy, along with all of the possible reasons or circumstances that could get your insurance company out of paying for claims made by those drivers. Make sure that you know the details of your policy before you agree to allow someone to drive your vehicle that is not covered on your auto insurance policy.
Understand how your premium is determined. Since every driver is unique in New York, every insurance policy premium will be as well. This is because your rate is determined by several personal factors. The insurance company will do a credit check on you to determine your ‘insurance risk'. They will also look at your age, gender, location, past driving history, and past insurance coverage to determine both the policy premiums and coverage they will offer to you. If you can keep your credit score high and you have a good driving history, you should be able to buy a reasonable auto insurance policy in New York.