Cheap Car Insurance New York

Buying cheap NY car insurance will not feel like the same deal you might find in other states. It is true that the average $2821.62 premium seems pretty high compared to the national average of $1439.14. The reality is that New York State is also the home of New York City and its 8 million residents. Additionally, more than 243,000 paved roads, many of them busy highways, criss-cross this beautiful state. Bucolic countryside gives ways to frantic, congested intersections and along the way lies all the activity that makes New York such an incredible place to live or visit.

When it comes to cheap car insurance NY still has good deals, but you must adhere to the strict minimum requirements. New York has a “no fault” insurance policy that means every driver must carry a minimum amount of coverage to drive legally. Failure to do so can result in suspension of your car registration and license and costly fines.

MINIMUM NEW YORK AUTO INSURANCE REQUIREMENTS

• Bodily Injury Liability—Pays medical expenses, loss of wages and related costs up to $25,000 for one person or $50,000 per accident to those injured by your car.
• Property Damage Liability—Pays up to $10,000 for any damage your car causes another vehicle or someone else’s property.
• No Fault or Personal Injury Protection (PIP)—Pays towards medical expenses or loss of earnings for yourself or anyone riding in your vehicle at the rate of $50,000 per person. Includes a death benefit and pedestrians injured by your car. Compensation for earnings is figured at 80% of current income up to $2000 a month for as long as three years.
• Uninsured Motorist Coverage—Pays you, your family or other passengers who are injured in an accident by an uninsured motorist or if you are injured in a hit-and-run accident. Rates are $25,000 per person and $50,000 per accident. This covers bodily injury only and not property damage.

It is important to note that your cheap NY auto insurance may not pay out if you were driving while intoxicated or under the influence of a drug that contributed to the accident. If you are the owner of an uninsured vehicle at the time of the accident, you may also not be able to claim these benefits.

While you are searching for cheap auto insurance NY companies will also offer you a variety of additional coverage policies that can be added to your basic package. Since the above requirements are basic and minimal, many New York residents buy further coverage, especially if they have personal or business assets they wish to protect. The reality is that medical expenses and property damage can be much more costly than the minimal coverage. It pays to consider these additional options when you are buying your own cheap car insurance in NY.

OPTIONAL AUTO INSURANCE COVERAGE

• Bodily Injury Liability—Increase your coverage $50,000/$100,000, $100,000/$300,000, $250,000/$500,000 or more.
• Property Damage Liability—Increases your basic coverage $15,000, $25,000, $50,000 or more.
• Additional Personal Injury Protection—Extends your PIP coverage amounts and includes out-of-state passengers when they are driving anywhere in the US or Canada. Both practical and inexpensive.
• Optional Basic Economic Loss (OBEL)—adds another $25,000 in protection towards lost job earnings after the basic $50,000 is expended.
• Supplementary Uninsured/Underinsured Motorist (SUM)—Increases your basic protection up to $250,000 per person or $500,000 per accident.
• Collision—Covers damages to your vehicle regardless of who is at fault.
• Comprehensive—covers other damages to your vehicle such as theft, vandalism, fire, weather, falling objects and collisions with animals. Usually has an available deductible ranging from $100–$1,000.
• Medical Payments—Additional coverage of medical and funeral expenses for you and your passengers.
• Accidental Death and Dismemberment (AD&D)—Additional coverage above No-Fault protection for you and your passengers.
• Supplemental Spousal Liability—your spouse is still covered by No-Fault benefits, but you are also protected from liability in his/her resulting injury or death.
• Gap Coverage—Pays the difference between what you still owe on your vehicle and what the insurer is willing to pay out on the actual cash value.
• Personal Umbrella Policy—Provides extra liability coverage from lawsuits that go beyond your basic primary policy coverage.

When hunting for cheap car insurance New York has numerous licensed insurance agencies from which to choose. All are able to offer you the basic required package and many of the above options. Additionally, if your driving record is less than stellar, you may be able to buy a slightly more expensive policy that has been designed for higher risk drivers. A clean driving record for a year can bring your rates down considerably. The state even offers a New York Automobile Insurance Plan (NYAIP) for those who would be otherwise uninsurable. New York welcomes new comers and residents alike to travel our highways, country lanes and city streets. We just want to make sure that everyone is sufficiently covered for when the unexpected happens.

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