Purchasing coverage for your vehicle is a big decision, so it’s important you take your time to understand the process before you make any choices. You need to understand the auto insurance laws in your state, the different ways to purchase auto insurance, the different types of coverage, and what affects the price of your policy.
Don’t worry, though—it’s not as complicated as it sounds. As long as you’re willing to spend some time researching your options and comparing prices, you’ll have no problem finding a good policy that won’t burn a hole in your pockets.
What You Need to Know Before Buying Auto Insurance in New York
New York State Laws
Like every state, New York has its own specific laws regarding auto insurance. Drivers are required to carry a certain amount of various types of insurance to satisfy these laws; if they don’t, they can’t legally drive.
The state of New York requires you to carry $10,000 in property damage coverage per accident, $25,000 in bodily injury coverage and $50,000 for death for one person involved in an accident, and $50,000 in bodily injury coverage and $100,000 for death for two or more people in an accident.
Your coverage must remain active while the registration is active, be in your name, and not be out-of-state coverage.
Shopping Options
If you choose to purchase your auto insurance like most people, simply call up one of the big names in auto insurance and speak with a salesperson. They can help you get adequate coverage for your state to make sure you’re legally allowed to drive.
However, if you’re looking to get the best coverage and the best deal, your best bet is to shop with a local New York insurance agency. When you shop with an insurance agency, you have somebody on your side during the buying process. An insurance agent can shop around with various providers, figure out what deals you may be eligible for, and advocate for you to ensure you get the best deal.
Keep in mind that the fee your insurance agent charges will be added into the cost of your insurance policy.
Coverage Variables
One thing many people don’t understand before purchasing insurance is which parts of a policy can be changed. If you want to save money on your insurance policy or customize your coverage, there are plenty of options available to you.
The first choice you have is the type of coverage. With liability coverage, your insurance provider will pay for damages to the other person’s car if you get in an accident. The only time your insurance provider will pay for damages to your vehicle is when you have full coverage, but that will cost you more monthly
You also need to decide how large your deductible will be. Your deductible is the amount at which your insurance policy kicks in to help pay for damages. It’s also the amount you have to pay out of pocket when you file an insurance claim. The thing is, many smaller repairs such as cracked or chipped windshields cost well below your deductible, leaving you to pay out of pocket. If most of your repairs cost $100 to $200, you may want to consider raising your deductible to save on your premium.
The final thing you’ll want to do is ask about any discounts you may be eligible for. Insurance providers offer discounts for safe drivers, drivers of green or hybrid vehicles, military members, policyholders who bundle their policies, and more.
Before you go jumping at the first insurance policy offered to you, consider what you’re looking for in your coverage and choose wisely.