New York Car Insurance

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Despite the congestion and traffic jams found in New York City, finding car insurance in New York State is actually not as difficult as it is in other areas of the country. The New York Department of Motor Vehicles makes proving financial responsibility very easy, offering no other option but the purchase of a state-approved car insurance policy. CarInsuranceReviews.com wants to make sure you have all of the information you need to make an educated decision at the time of purchase.

Minimum Car Insurance Requirements in New York

There is no exception to the car insurance rule in New York. If you have a registered vehicle, it simply must be insured, whether it is in operable condition or not. Your insurance policy must include at least $25,000 per person and $50,000 per accident to pay for bodily injury liability – or the medical bills associated with an accident you cause. New York requirements are different than other states because they require a separate limit of liability to pay for death expenses. This limit is a minimum of $50,000 per person and $100,000 per accident where multiple people are involved. You must also purchase a minimum of $10,000 in property damage liability to pay for property or vehicle repairs or replacement.

Most financial advisors highly recommend purchasing car insurance limits that are much higher than the state-published minimums. Your insurance company will not pay damages over the amounts stated on your policy. If you are in a serious accident, the medical bills and property damage expenses can very quickly surpass the minimums the state requires. If this happens, you’ll be required to pay the difference out of pocket and may have to sell your home or other assets in order to do so.

Make sure that the name on your insurance policy matches the name on your vehicle registration at all times. State law says that you can only insure a vehicle that you own. Changing the name and address on the registration will automatically cause a lapse in coverage, even if you continue to pay for the policy. Likewise, you cannot put a vehicle in your name and add it to someone else’s car insurance policy.

Penalties for Driving without Insurance

The penalties for driving without car insurance in New York are just as severe as in other states. Failure to maintain insurance coverage will result in the suspension of both your driver’s license and registration. Those involved in an accident while uninsured can expect to remain suspended for at least a year. There is also a fine of up to $1,500, which applies to driving while uninsured or allowing someone else to drive your car without insurance. On top of the fine, you’ll have to pay a civil penalty of $750 to reinstate your license.

CarInsuranceReviews.com Can Help

There are dozens of car insurance companies doing business in New York and we know how difficult it can be to determine which to ask for quotes. CarInsuranceReviews.com has partnered with several carriers to ensure you’re able to work with some of the best companies in the region.

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