Auto Insurance NY
Drivers in all states are bound by state to have a certain set amount of minimum insurance before they are allowed on the road. This is usually stated as a set of three numbers, for example, 10/20/10. The first term in the set is the minimum amount of bodily injury liability insurance per person which covers the medical expenses if a person in the car is in an accident. The second term refers to the minimum amount of bodily injury liability insurance that you have per accident and the third term is the minimum amount of insurance that covers damages to the vehicle per accident.
While these are the minimum requirements as specified by the state, most insurance companies advise their customers to buy higher insurance so that they can be safeguarded in case they are in a bigger accident.
New York Auto Insurance Requirements
The minimum state insurance requirements for New York are 25/50/10. If you drive your car without at least this amount of insurance, you may face some heavy penalties like a fine if caught. You are also required to carry proof of this insurance with you at all times. Moreover, insurance can only be bought from a New York State Insurance Department licensed company.
All rental cars in New York also require auto insurance. NY rental insurance can be bought from the rental companies at $7 - $14 per day if not provided with the car already. Some credit cards may also cover rental insurance. Affirm this with your bank before assuming that you are covered.
NY is a No-Fault state which means that the insurance company has to pay for damages regardless of who was at fault in an accident.
Auto Insurance Rates
Auto insurance companies in New York can access your Personal Credit Report in order to establish how much rates to offer to you and whether you will be making payments monthly or quarterly.
Rates are also established based on your driving history including the number of accidents you have had and the number of violations against your driver’s license. Moreover, family cars often receive a better insurance package as compared to sports cars and other fast cars because of the lower risk they present to the company of accidents and theft.
Choose Your State
Q:Which company offers car insurance without drivers license in NY?
A:There are a number of insurance companies that offer insurance services to individuals that do not have a license. However, one must have a valid reason for not having a license. Insurance companies may often ask why the individual has no license. You can more about this area by searching for information at our website.