Each state has its own requirements for carrying car insurance. It is your obligation, legally, to buy the state minimum insurance in liability coverage. Therefore, you need to know what limitations apply to you and how to find the best insurance deals based on your driving record and lifestyle.
In New York, you’re “skating on thin ice” if you don’t buy insurance coverage for your car. The super busy highways and weather hazards trigger accidents daily. Therefore, overlooking the importance of having insurances can create repercussions that may be hard to overcome.
Check Car Insurance New York Policies and Current Rates
You cannot register a car with the Department of Motor Vehicles (DMV) until you carry the state’s limits for liability insurance. Without this insurance, you face suspension of both your registration and driver’s license. Therefore, it pays–literally–to regularly check car insurance New York policies for current rates.
State Minimums for Liability Coverage
The minimum liability coverage for New York State insurance is broken down to include:
- PIP Insurance (personal injury protection) of at least $50,000
- Bodily Injury (BI) insurance of at least $25,000 per person per crash or $50,000 for more than one person
- Property Damage (PD) insurance of $10,000 – covering the other car or other property, such as building exteriors or fences
- A Death Benefit of at least $50,000 per person killed or $100,000 for all the persons killed in a wreck
- Uninsured and Underinsured BI insurance of at least $25,000 per person or $50,000 per accident
While the above breakdown represents the lowest amount of insurance coverage you’re required to buy, you may want to purchase more protection.
If you receive injuries in a major accident or sustain a significant loss, an insurance company can only cover you for the value of the policy. In this case, you may find that you’re unable to meet all your financial obligations – and it could happen overnight.
Therefore, when you make an insurance selection, keep in tune with how you’re set financially. Take a view of the assets you hold and what you can afford in insurance to stay afloat if the unexpected happens.
Registering Your Vehicle: What You Should Know
If you register your vehicle with the DMV but are not driving it, you still have to have insurance. Otherwise, the DMV will suspend your license and driving privileges. The only exception is when you have a motorcycle and store it. You don’t have to have insurance while you’re not riding it. Otherwise, you need to carry New York insurance for a vehicle registered in the state. The registration must be in your name.
Therefore, when you register a vehicle with the New York DMV, you have to show proof of insurance. You can do this by presenting your insurance card in person. Your insurer will also send an electronic ID to the DMV. Both forms of ID are required for registration. To keep your insurance costs low in New York, make it a priority to drive safely. Rates can jump up substantially if you’re cited for a moving violation or get involved in an accident.
However, you can get a mandatory discount to cut your insurance cost by taking a state-approved course in defensive driving. After taking the course, your insurer will give you a 10% discount.
Review the Rates Carefully
If you need auto insurance coverage in New York, review the rates carefully. Learn what discounts are available to you and get into the habit of driving safely.