New York is a no-fault car insurance state. What this means for drivers is that if they are injured in a car accident they must first utilize their own personal injury protection (PIP) coverage before making claims against the at-fault party. The state has set verbal thresholds for how serious the accident must be before a lawsuit is allowed. This system has been put in place because of the high incidences of fraud for bodily injury claims in the state.
New York Online Automobile Insurance: Required Coverage
Because of the no-fault insurance, personal injury protection is required coverage in the state of New York. In addition, drivers must have no less than $25,000 bodily injury liability per person; $50,000 bodily injury liability per accident; and $10,000 property damage liability per accident. In addition, car owners must carry at least $50,000 and $100,000 coverage in case of wrongful death.
Uninsured motorist coverage rounds out the list. This coverage protects you in case you are involved in an accident with someone who has no insurance coverage. While only 5.4% of drivers are estimated to be uninsured in NY, making it one of the 3 lowest states in the country, it is still a wise form of protection.
Recommendations on New York Online Automobile Insurance
Personal property damage, made up of collision and comprehensive coverage, is not required by the state. However, if your vehicle is financed, your lender will require you to carry it. If you own your own car, you will need to evaluate whether the value of the vehicle warrants the cost of the premiums.
Comprehensive coverage protects your vehicle from losses that occur from non-moving perils like fire, theft, weather damage and vandalism. New York is in the top 10 states for the highest number of motor vehicle thefts. This fact alone makes comprehensive coverage worth thinking about. Collision covers damage to your vehicle from at fault accidents.
Towing and labor coverage and rental car coverage are two other types of insurance that are worth considering for drivers in New York. Just be sure to check and make sure you don’t already have such coverage through an automobile club membership or a premium credit card.
