New York Car Insurance provides us information about the rules and regulations of Car Insurance in New York.Car Insurance Regulations in the United States change from one state to another state. The rules and regulations for Car Insurance in New York are very strict.
Before registering the vehicle in New York state, the Liability Insurance must be obtained. If the Liability Insurance is not done, no license plates will be given. The insurance proof usually in the New York Insurance ID Card mode has to be submitted to the Department of Motor Vehicles (DMV).
The Department of Motor Vehicles also requires an electronic verification from the Insurance Company. The State Regulations ask for both electronic proof and paper proof.
The minimum limits of liability mandatory for registering the vehicle in New York (a No-Fault State) are the following:
- Bodily Injury: It is $25,000 per individual and $50,000 per motor vehicle accident for injury and $50,000 per individual and $100,000 each accident for death.
- Uninsured Motorists Coverage: It is $25,000 per individual and $50,000 each accident for injury and $50,000 per individual and $100,000 each accident for death.
- Property Damage: It is $10,000
- Basic No-Fault: It is $50,000
The rules and regulations for Car Insurance in New York are not similar to most of the states in the U.S. If a person wants to drive in New York, the vehicle has to be insured with an Insurance Company which has a license of New York State Insurance Department. Car Insurance done outside the state of New York will not be accepted.
The DMV receives electronic notification from the Insurance Company both when a policy is issued to the customer and when the policy terminates. If the DMV receives the information from one Insurance Company that one of its policies on a particular customer has lapsed, and this happens before another Insurance Company notifies the DMV about a new policy taken by that customer, and that particular person has not surrendered the license plates to the DMV, then that particular person is going to have problems.
A letter concerning the issue will be sent to the customer from the DMV and if it is not resolved immediately, that person can lose the registration of the vehicle, as well as the driving license. In addition, driving a vehicle which is not insured is illegal and that person is liable to be ticketed and penalized and the car may be confiscated.
If a person’s registration is debarred because of absence of Insurance for 90 days or less, that person has the options for making payments of penalties ranging between $8 and $12. This will be charged for every day the car was not insured. A civil penalty for a time period of 85 days may cost $840.
The Leading Car Insurance Companies in New York include:
Progressive Casualty Insurance Company
Geico General Insurance Company
Excelsior Insurance Company
Central Insurance Company
AIG Centennial Insurance Company
AllState Insurance Company
AutoOne Insurance Company
Continental Insurance Company
Metropolitan Casualty Insurance Company