The auto insurance NY rules stipulate that you must have insurance for any vehicle that is registered, regardless of whether you are driving that vehicle or not. The amounts of insurance required under New York law are $25,000/$50,000 in injury coverage and $50,000/$100,000 in coverage for death. This means that you are covered for up to $25,000 or $50,000 for each individual person injured in an accident and for up to $50,000 and $100,000 in total liability for each accident. These insurance coverage amounts are the minimum required, but you may purchase more. While insurance is required, it can also be expensive. Fortunately, there are a few things you can do in order to lower your car insurance costs. How to Lower Your Auto Insurance Costs The best way to lower your auto insurance costs is to avoid getting into an accident. Your insurance premiums are set, in large part, based on the insurance company's assessment of how risky of a driver you are. Being involved in an accident can send a red flag to the company that you do not drive as carefully as you should, thus sending your insurance rates up. The same is true for getting a speeding ticket or other moving violation, and especially for things like DUI, which is such an extreme red flag that many insurers will drop your coverage. Outside of avoiding tickets and accidents, some other things you can do in order to lower your costs include: †Purchasing a safe, reliable car with a good safety rating. Advanced safety features can reduce the risk of serious injury and can lower your insurance rates. †Purchasing a car that isn't flashy, isn't likely to get stolen and isn't likely to inspire you to drive too fast. Sports cars and cars that are often the subject of theft will cost more to insurance. †Taking driving courses. If you take a defensive driving course and have your teens take drivers education classes, your insurance rates will typically be lower. †Notifying your insurer if you reduce your driving. The more you drive, the greater your risk of being involved in an accident. If you retire or you shorten your commute, you can cut the risk of accidents and cut your insurance rates. †Raising Your Deductible. The deductible is the amount you pay out of pocket when something goes wrong. A higher deductible means the insurer will have to pay out less, and thus your rates will be lowered when you raise this amount. Other Factors Certain other factors such as your marital status, your credit score and where you live can also affect your insurance rates. While these things may be more difficult to change and cannot usually be altered simply to get lower car insurance rates, you should inform your insurance company whenever you make a big change in your living situation to find out if your actions will lower the cost of your policy. Always be Properly Insured While you can lower your insurance costs, there's always going to be some expense with insuring your vehicle. Despite this, it is vital to make sure you have the coverage required by law. Not being properly insured can subject you to numerous penalties including a ticket, the possible impounding of your vehicle or full liability for all damage you cause in the event of an accident. These consequences have a far greater cost than simply buying the Auto insurance NY law says you are supposed to have.
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