What You Need To Know About New York Auto Insurance
Auto insurance laws and requirements vary from state to state not to mention its complexity that normal people like you and me, find difficult to understand which includes the types of coverage to choose from, ranging from full liability insurance to personal injury protection. There are also states that only require liability insurance as their minimum coverage while some made them entirely optional.
If we are going to talk about who is the strictest state in the U.S. when it comes to auto insurance then that would be New York. If you want to drive around New York, then you must have the minimum required liability as mandated by the state law. Additionally, the New York Division of Motor Vehicle requires that each driver should carry a copy of his proof of insurance, at all times, while driving.
Understanding the New York Liability Coverage
The state law requires insurance coverage of 25/50/10 that means $50,000 are set aside for bodily injury, $25,000 limit per person and $10,000 for properly damage per accident. Wrongful death coverage means that the accident resulted in death, the bodily injury coverage should be able to cover twice the minimum required value. Wrongful death coverage has the limit of $50,000 per person and almost $100,000 on each accident.
Additionally, New York auto insurance laws are also following the so-called no fault auto insurance system. In simple terms, the insurance companies of both parties involved in the accident should pay the insurance claims irrespective as to who instigated the accident, with certain limit of course.
Driving in New York also requires the Personal Injury Protection or PIP. This coverage pays for the medical expenses, lost salaries or wages, the pain and sufferings. Up to $50,000 can be claimed per accident.
Moreover, for Uninsured and Underinsured Motorist Coverage requires a 25/50 limit. This means, a claim of up to $25,000 per person is allowed and up to $50,000 on each accident. This is important specially if you are involved in an accident where the other party is unable to pay for the expenses using his/her insurance coverage for the inflicted damage or simply not sufficient enough to cover the entire cost of the accident.
Do not drive around New York if you have no insurance because this will result in a ticket or fines. Moreover, avoid driving at all times if you have lapses in your insurance coverage because your insurance company usually informs the New York Division of Motor Vehicle about it. This is definitely a sure way to buy yourself a trouble.
If you are thinking of changing to another car insurance company, then inform the state’s DMV too. Also, always remember that taking too much time in resolving a problem will cost you more when it comes to the registration and driver’s license. Remarkably, the New York DMV allows some sort of options if you are currently processing your auto insurance application.
Lastly, when you have decided to sign into contract, be certain that the insurance company or less the agent you are dealing with is a licensed one. You are therefore encouraged to make a call to confirm whether the insurance agent or company is registered and duly authorized to conduct business around New York.
Car insurance policy is important and the law states that it is your right and responsibility as well to obtain this document. Hence, make every effort to understand the said policy.
