New York has among the most stringent auto insurance laws in the country. Penalties for not properly insuring your vehicle are very severe. Minimum auto insurance coverage requirements in New York are mandated by state law and the New York Department of Motor Vehicles. The following minimum coverage is required on every registered vehicle, except as noted below:
Driving without the mandatory liability insurance in New York can result in a fine of up to $1,500 for a first offense, and could result in jail time of up to 15 days. Subsequent offenses are subject to higher fines, reinstatement fees, and jail time.
The New York Automobile Insurance Plan is available to drivers who are unable to obtain required coverage through the voluntary market. More information is available on the AIPSO website.
Factors Influencing Car Insurance Premiums in New York
Getting a quote for cheap car insurance in New York requires some research and rate comparisons between different insurance companies, even though New York ranks just below national averages for car insurance costs. Some factors that impact insurance rates in New York include:
New York is a no-fault state, and requires PIP insurance coverage
Vehicle repair costs are generally more expensive in New York than elsewhere
Overall accident fatality rates are much lower than national averages
A much lower percentage of uninsured drivers compared to national averages
Auto insurance fraud
Vehicle theft rates lower than national averages
The average auto insurance premium for residents in New York is $1,627 in 2011; the national average is $1,790.
Tips for Obtaining Cheap Car Insurance in New York
If youre over 55, take a state-approved defensive driving course for a policy discount
Several insurance companies offer pay as you drive car insurance for low mileage drivers in New York
Maintain a good driving record
Bind multiple policies (homeowners, life, auto) with the same provider
Maintain a good credit score
Create a personal emergency fund of up to $1500 and increase deductibles accordingly
Discuss affinity discounts with your insurance provider
Drop comprehensive and collision insurance on older vehicles
New York Statistics
Auto Theft: New York has a relatively low vehicle theft rate, and it has been decreasing (as is the case in most states) consistently over the past 10 years. This can be attributed primarily to anti-theft devices being standard on recent model cars, as well as public awareness of the issue:
Automobile Accidents: The total vehicle miles traveled in New York has decreased in recent years, as has vehicle accident fatality rates. New York is well below the national average in numbers of deaths in car crashes, despite having a fairly high population concentration in the southeastern part of the state.
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New York state car insurance rates vary hugely between upstate and Manhattan. See minimum requirements and traffic laws for New York.
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