New York State Liability Auto Insurance
The basic Car Insurance Requirements in New York are as follows:
Liability Insurance is a minimum requirement and a low cost car insurance option as long as the vehicle is not financed.
The liability Minimums are 25/50/10
(Bodily Injury and Property Damage)
The first 25 represents $25,000, the maximum coverage for one person’s injuries, $50,000 for the total coverage for all injuries sustained in one incident and last but not least $10,000 for the property damage maximum coverage amount.
bad accident caused by someone with the minimum required liability insurance.
New York Car Insurance Laws:
Within New York City and all New York’s surrounding areas, Insurance proof is a requirement at registration and of course after an accident. The First Offense penalty is a $150 – $1500 fine, maximum 15 days in jail.
New York Car Insurance Facts:
Although state minimum coverage “liability only” is the cheapest car insurance available, you may find it just doesn’t offer the financial protection you prefer. If your driving around New York with “liability only”, what happens if some Driver with no insurance hits you? Chances are you’ll find yourself out of luck when it comes to recovering the loss. If they hit you and have no insurance while you only have liability, pretty much the only thing you can do is file a lawsuit and hope the driver has the funds to cover the damage out-of-pocket. If they don’t have auto insurance, there’s a good chance they don’t have the money to cover this loss. This is where having collision on your policy may be worth the added expense. It’s also a good idea to have sufficient theft coverage if your vehicle matches any of the models listed below.
According to the National Insurance Crime Bureau, in 2004 the most commonly stolen car was the 1990 Toyota Camry. In 2007 the 2000 Honda Civic took the #1 spot.
Top 10 2004 and 2007 Stolen Vehicles in NY
|04: 1990 Toyota Camry
04: 1990 Honda Accord
04: 1993 Honda Civic
04: 1994 Dodge Caravan
04: 1997 Nissan Maxima
04: 1994 Plymouth Voyager
04: 1994 Jeep Cherokee/Grand Cherokee
04: 1994 Acura Integra
04: 1993 Ford Taurus
04: 1993 Oldsmobile Cutlass
|07: 2000 Honda Civic
07: 1994 Honda Accord
07: 1991 Toyota Camry
07: 1996 Dodge Caravan
07: 1996 Nissan Maxima
07: 2000 Jeep Cherokee/Grand
07: 2002 Ford Explorer
07: 1994 Plymouth Voyager
07: 1999 Ford Taurus
07: 2007 Toyota Corolla