According to the New York Department of Motor Vehicles, you NEED insurance.
“To register a vehicle in New York State you must have New York
State issued automobile liability insurance coverage. If you do not maintain
the coverage, the DMV can suspend your vehicle registration and your driver
license,” says the
New York DMV.
Under New York law, you are required to carry liability insurance coverage.
The minimum amount as of this writing is:
- $10,000 for property damage incurred in a single accident.
- $25,000 to cover bodily injuries and $50,000 in case someone dies in an accident.
- $50,000 to cover bodily injuries and $100,000 to cover the death of two
or more individuals in a single accident.
While everyone is required to purchase liability insurance coverage throughout
the State of New York, the premiums vary widely – even for the exact
same insurance coverage from the same company. This is because a number
of factors go into determining a driver’s auto insurance rates.
You’re probably aware that having too many “points” on
your driving record for moving violations, such as speeding will increase
your insurance premiums. And you
may or may not already know that a DWI will cause you to lose the Good Driver discount until it
falls off your driving record, but do you know the other factors that
influence your auto insurance rates? Read on to find out what they are.
Your age: Generally, the older the driver, the lower the chance of the driver being
in a crash. This is simply due to
experience. Since younger drivers cause the most accidents, they pay the highest insurance premiums.
Your gender: Teenage males and young male drivers have a higher incidence of crashes,
so they pay the highest insurance premiums.
Where you live: Big cities have a higher percentage of auto thefts and vandalisms, so
people who live in bigger cities pay higher premiums. If you live in a
small rural town, you will pay less in insurance. So,
always notify your insurer right away if you move to a smaller town or one with
How much you drive: If you put a lot of miles on your vehicle each year, you have a higher
chance of being in an accident so it will reflect in your auto insurance
rates. On the other hand, if you work close to home or work out of the
house, you will save money on auto insurance.
Your experience: You can be 25 or 30, but if you’re a newly licensed driver, you can
pay more for insurance.
The car you drive: If your car is expensive to repair or replace, it can cost more to insure
than another car. On the flipside, if you have safety and anti-theft devices,
they might save you money on insurance.
Your driving record. If you have a history of moving violations, each one can lead to an increase
in insurance premiums.
Your credit. If you have poor credit, you could pay more in auto insurance. For further
information, read this
What Not to Do After a Car Accident on Long Island
We hope you found this information useful. To file a
car accident claim on Long Island,
contact our firm at (631) 925-2117 for a
free case evaluation.