5 Things To Know About New York Auto Insurance

What do you really know about New York auto insurance? Do you know even the most basic facts about car insurance coverage in New York? If not, here are five facts to help you.

One: You are required by state law to carry insurance if you own a vehicle. You must have a minimum of $25,000 for bodily injury liability for one dead or injured person and a maximum of $50,000 per accident. You also have to have $25,000 for uninsured/underinsured motorist bodily injury coverage with a maximum of $50,000 per accident in case of an accident with a driver with no or insufficient coverage. Finally, you must have $10,000 in property damage insurance and $50,000 in personal injury protection.

Two: New York is a No Fault state. This means that your insurance company must cover the costs of your damages no matter who is at fault in your accident. However, this coverage is only for a specified limit. This is one reason many people decide to seek coverage beyond the required state minimum amount with elective policies such as comprehensive coverage, a policy that will protect your vehicle in the case of theft, vandalism or an act of nature.

Three: Safe drivers may be able to pay lower rates for New York auto insurance. Many insurance companies will give you a discount if you have little or no blemishes on your driving record. You can ask if your company will give you a break in your rates if you have had no accidents or other traffic violations within the past three years. You may also ask if the company has any classes focused on defensive driving that will let you earn a lower rate on your insurance. Teens that make good grades may also get lower rates because they are thought to be safer drivers.

Four: Safe cars will also get you lower rates on your insurance. Many newer car models have safety features beyond seat belts such as airbags, anti-lock brakes and daytime running lights that make them much safer in case of an accident. Having a car with such features can save you money on your insurance. Furthermore, cars that have anti-theft devices can get you a break on comprehensive insurance.

Five: An insurance broker may be able to help you get the best deal on your New York auto insurance policy. Brokers work closely with insurance companies, so they get quotes accurately and quickly. It is best to use a broker who specializes within your specific area of insurance to be sure you have someone who not only understands the form of insurance you need but also the particular industry in which you need the insurance.

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