While there are many different kinds of car insurance, there are a few things you need to know about car insurance to stay on the right side of the law. The first thing you need to know about car insurance is that it’s mandatory in most parts of the country. This guide will cover everything you need to know about car insurance in NY.
Do You Need Insurance?
The short answer is yes, insurance is mandatory in New York. If you get caught driving without car insurance or in an accident, your driver’s license and vehicle registration will be suspended by the New York DMV.
New York is a No-Fault State
New York is a no-fault state, which means you’ll need to use your own insurance to file claims in the event of an accident. This means you will need to ensure you have the minimum insurance coverage required in New York. For more information on what insurance coverage you need in New York, check out this guide from the DMV.
Factors That Affect Your Auto Insurance Cost
No matter what kind of car insurance you need, the cost will be influenced by three main factors: age, driving record, and credit. As people get older, their risk for accidents goes up, which also means their monthly rates go up unless they have an over 50s insurance policy like the AARP car insurance in NY coverage from The Hartford.
Having a clean driving record also impacts your car insurance costs. The more accidents and traffic violations you have on your driving record, the higher your auto insurance premiums will be. Additionally, your credit score also influences how much you pay for car insurance. This is because those with poor credit often have trouble finding auto financing or getting approved for an auto loan. Insurance companies will use this information to determine how much they’ll charge you for car insurance.
Cheapest Cars to Insure
One of the best ways to save money on car insurance is to buy a cheaper vehicle. Cars with good safety ratings usually cost less to insure because they’ve been proven to be safer than other cars on the road. For example, the Honda CR-V LX is generally a very safe car and is often among the cheapest vehicles to insure.
Installing a Dashcam
A dashcam is a camera that you can install in your car to record the entire time you’re driving. This serves two purposes: it can help provide evidence of an incident, and it could also tell you if you have a claim for damages. Of course, everything must be recorded on video to get the best chance of winning your case.
Conclusion
If you’re driving in New York, it’s essential to know the rules of the road. Most importantly, this state is a no-fault state, which means that the driver’s insurance company covers medical and repair expenses regardless of who was at fault in the accident. Auto insurance is mandatory in New York, and drivers must carry insurance that meets the state minimums. Remember, several factors will affect your auto insurance rate, including your age, driving record, and credit score.
