An Inside Look at New York State Auto Insurance

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Auto insurance rules vary from state to state. As always, New York is a little different. Prior to getting to know more on the subject of New York auto insurance regulations, consider how it differs from others.

Facts About Traffic In The State Of New York

Everyone knows that New York City has the largest population of any city in the United States, however, the New York City Subway is the largest transportation system in the entire world. Without minding the enormous time they spend on travel to commute between their home and workplace, which averages anywhere between 60-89 minutes, 50 per cent of commuters rely safely on public transportation. 530,791 people all leave for work between the hours of 8:00am and 8:29am, making this the most congested time on the road. This is why New York City is in the top 5 cities in the world that have the highest cost for automobile insurance.

What Are New York State Insurance Regulations?

Considering this information, New York car policies have been created rather uniquely. Help us understand first. It is in accordance with “no-fault system” whereby the insurance company parts with a specified sum whether the fault is yours or another driver. 25/50/10 coverage is always going to be mandatory on your car insurance policy. The least amount fixed for any Bodily Injury Liability insurance is $25000 per person and $50,000 for either two or more involved; this is apart from an indemnity of Property Damage Liability amounting to not less than $10,000. New York car insurance rules insist that drivers carry at least a certain amount of personal injury liability coverage (PIP) the insurance cover $50,000 is meant towards meeting medical expenses should a claim be made.

It is altogether a different problem, if the drivers involved in the accident happen to be uninsured or under insured. Termed as Uninsured/Under-insured, it is a compulsory clause nevertheless. (UM/Uninsured Motorists) Standard or Supplemental (TOTAL) the insurance cover is at least $25,000 or $50,000 as the case may be, for every single accident incident and every single victim.

Saving Tips For New York Auto Insurance

Insurance in the New York area is always going to be more expensive than anywhere else. There are other ways that will help cut your costs. The basic coverage plan like not using the car for business purpose. Going for a small car, getting safety devices installed in it like seatbelts, anti-lock breaks, car alarms, tracking systems and keeping it in a garage can be tried to reduce your deductible.

To save even more it is always best to purchase all your insurance policies from one company. If you meet these qualifications, it is possible you might be able to get a multi-policy or multifamily discount. It’s important to maintain a high credit rating history. By doing this, it will help you in bargaining down a cheaper New York insurance rate.

And always remember, shop around as much as you can. Search for rate quotes from several companies, then compare.

write by cruz

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