New York requires several types of auto insurance coverage: liability, uninsured motorist, and no-fault. Drivers can help offset the cost of insurance premiums by taking certain courses or pursuing certain safety measure with their vehicle.
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New York Auto Insurance Minimums
To comply with New York insurance laws, your insurance must meet the following minimums:
- $25,000 for bodily injury to person
- $50,000 total for bodily injury to multiple people per accident
- $50,000 for death to one person
- $100,000 for death to multiple people per accident
- $10,000 for property damage
- $25,000 for bodily injury to person
- $50,000 for injuries to multiple people
- A limit of $50,000 per person for:
- Accident-related medical expenses
- 80% of lost income due to injuries from a car accident, with a limit of $2,000 per month for up to three years
- Up to $25 per day for accident-related expenses such as household assistance
- A $2,000 death benefit in addition to the $50,000 limit
Note that if your medical costs exceed for no-fault coverage limit, your health insurance will then kick in. No-fault coverage covers costs before your health insurance kicks in.
New York Auto Insurance Alternatives
If you are a high-risk driver, insurance companies have the right to deny you coverage. If you cannot find a company that is willing to cover you, you have the right to purchase insurance through the New York Auto Insurance Plan (NYAIP).
This plan is often seen as a last resort, because rates are generally much higher than standard insurance plans.
Optional New York Auto Insurance
Most insurance companies will offer additional coverage to help offset your costs in the case of an accident. The following types of insurance are available:
- Collision – For accident-related damages to your car
- Comprehensive – For any damages to your car that are out of your control, such as weather-related damages or vandalism
- Medical and funeral – For any medical bills or funeral costs resulting from an accident
- Towing and labor
New York Auto Insurance Violations and Penalties
If you are caught driving without the requisite insurance, you will have to surrender your car’s license plates to the DMV, or suspend your car’s registration and driving license.
If your insurance is lapsed, you also have to surrender your license plates to avoid the suspension of your vehicle registration. Alternatively, if your lapse will be less than 90 days, you can pay a fine instead of surrendering your plates. Your fine will cost $8 per day for the first 30 days, $10 per day for days 31 through 60, and $12 per day for days 61 through 90.
After 90 days, your driver’s license will be suspended automatically, if you did not surrender your plates. To reinstate your license, you will have to pay $100.
New York Auto Insurance Premiums
To determine your insurance premiums, insurance companies will look at the following factors:
- Driving record
- Credit score
- Car model, make, and year
- The cost of your deductible (what you pay out-of-pocket)
New York Auto Insurance Discounts
The state of New York provides for several different discounted insurance options. Inquire if you are eligible for any of the following discounts for:
- Taking an accident prevention course
- Having a car with automatic seat belts or airbags
- Having a car with a factory-installed anti-lock braking system
- Taking anti-theft measures (alarm systems, ignition cutoff devices, electronic trackers, or window glass etching)
- Participating in a Combat Auto Theft Program
- Having factory-installed daytime running lamps (DRL)
- Being an accident-free driver
- Buying a multi-policy plan
- Being an owner of multiple cars
- Taking a driver training course if you are under 21
New York Auto Insurance Fraud
The state of New York is one of the highest-ranked states for auto insurance fraud. Common insurance fraud attempts include staging car accidents, falsifying doctor reports of accident-related injuries, and falsifying mechanical reports of accident-related damages.
You can report fraud tips by calling (800) 342-3736 or mailing a Suspected Fraud Report to:
Insurance Fraud Bureau
One State Street
New York, NY 10004
Most Stolen Cars in New York
You may pay higher premiums if your car is commonly targeted by automobile thieves. The following cars are the most-stolen in New York:
- Honda Civic
- Honda Accord
- Dodge Caravan
- Toyota Camry
- Nissan Maxima