Car Insurance Requirements in New York
December 19th, 2009Finding cheap car insurance in New York is quite easy. There are many car insurance companies in New York that offer affordable and flexible policies. But before you start looking for car insurance, there are a number of things about New York insurance laws you have to understand.
New York law requires that all registered vehicles carry minimum Bodily Injury Liability of $25,000 per injured person up to $50,000 per accident and Property Damage Liability coverage of $10,000.
- Bodily Injury Liability: $25,000/$50,000 Limit
- Property Damage Liability: $10,000 Limit
- Uninsured/Underinsured Motorist Bodily Injury: $25,000/$50,000 Limit
- Personal Injury Protection: $50,000 Limit
Unlike other states, license plates issued at registration are not permanent. If your insurance coverage lapses, the plates should be returned immediately to the state Department of Motor Vehicles.
Your car insurance must be provided by an in-state company or an out-of-state company licensed to provide car insurance in New York. Out-of state and unlicensed companies that provide car insurance are considered void and invalid. This can result in the suspension of your license and registration.
The State of New York also follows a No-Fault system which dictates that your insurance company will complete payments for your injury claims regardless whose fault it is for a specified limit. In this system, you lose some of your rights to sue another party. This was intended to decrease the number of lawsuits per year and allow drivers who were involved in an accident to seek medical care as quickly as possible.