A New York auto insurance policy is a requirement for state residents who own a vehicle. You have no option but to carry a New York auto insurance policy on any vehicle you have registered with the state, or you may face stiff penalties.
An auto insurance policy in New York is something you should shop around for. Since you must have auto insurance you should at least make sure you are getting the best New York car insurance policy possible.
Read on to learn a few ways to find a cheap New York auto insurance policy while getting the protection that you need.
New York Auto Insurance Policy Types
There are two basic types of NY auto insurance policies. They are full coverage and liability coverage.
Full coverage NY auto insurance has the following features:
- protects your property and others property in an accident.
- provides medical coverage for you, your passengers and people in other vehicles involved.
- provides coverage to protect you against drivers without insurance coverage or without enough insurance coverage to cover the cost of damages to your property.
Full coverage insurance is also called collision insurance by insurance companies. It is referred to as full coverage because it is the maximum coverage you can get to protect you in all aspects in the event of an auto accident.
Liability coverage includes:
- payments for damage you do to others property
- medical payments
- optional uninsured and underinsured coverage
Liability coverage is also referred to as state minimum coverage because it is what the state requires at minimum for legal insurance coverage.
New York Auto Insurance Policy Legal Requirements
When you are shopping around for auto insurance it is very important to understand the minimum insurance requirements for New York. The New York Department of Motor Vehicle is very strict about auto insurance coverage.
In the state of New York, anyone with a vehicle registered with the state is required to have a minimum 25/50/10 with 25/50 uninsured motorist limits. What this means is coverage as follows:
- Bodily injury liability: $25,000/$50,000
- Property Damage: $10,000
- Uninsured/Underinsured Motorist: $25,000/$50,000
- Personal Injury Protection: $50,000
There is also a requirement of filing insurance verification with the DMV. You must show paper proof of your insurance coverage at the DMV and your insurance company must electronically file proof of your insurance coverage with the DMV in order for you to be legally covered under the law.
New York Auto Insurance Policy Options
As long as you are at the legal minimum coverage you can choose whatever type of insurance coverage you want. Many times people opt to go with a little higher coverage then what is required by law.
Legal minimums are just that – bare minimums. You have to consider that in the event of an accident you are responsible to pay costs over what your insurance covers. You should be sure that you can afford that and still be able to protect your assets.
You may want to go with optional coverage that will offer you a little more. For example, road side assistance programs that offer you a piece of mind. You may choose rental coverage so that if your car is not useable you will have a rental car to use until it is fixed.
Optional coverage is simply something you may want to consider. They are not required by law, but may just make sense for you.
Shopping Around For The Best New York Auto Insurance Policy
Shopping around for auto insurance is the only way to get the best deal. You have to take all things into consideration – legal requirements, coverage options – and go get quotes from different companies.
The reason for getting auto quotes is not just to find the lowest price. You want the best value. You want to find the policy that offers you everything you need at an affordable price.
Shopping around allows you to do this in an educated way where you are seeing what is out there. You will get high prices and low prices, but you have to remember to always check out the policy details so you can make sure you are getting what you need coverage-wise.
Not shopping around is a huge mistake and could end up costing you big time. When you settle for the first company you come across you are missing out other deals that may be out there.
New York Auto Insurance Policy Quotes
Getting insurance quotes used to be a hassle. You would have to go to the insurance company or be stuck on the phone calling around for quotes.
Today the Internet lets you quickly and easily shop around for insurance quotes. Use our quote tool to help you get insurance quotes from several top providers today!
Find the best New York auto insurance policy now!