subject: How Your New York Auto Insurance Works [print this page] How Your New York Auto Insurance Works
How New York auto insurance works is simple. Drivers buy an insurance policy protecting their financial future for a set amount of money. When there is an accident or a claim, the insurance company covers the damages protecting automobile drivers from expensive medical bills, repairs, property damage and lawsuits.
The state of New York requires all drivers be financially responsible in the event of an accident caused by them. These insurances are required: Personal Injury Protection, bodily injury liability, uninsured motorist protection and property damage liability insurance. With over 270 companies licensed to sell this insurance in New York, this is big business bringing in $8 billion a year.
The minimum limits of New York auto insurance vary according to the liability. Both bodily injury liability and uninsured motorists require $25,000 per person and $50,000 per accident. In the event of death, these are increased to $50,000 per person and $100,000 per accident. Damage to another vehicle, house or fence is covered under a property damage liability policy of $10,000. Personal Injury Protection pays the medical bills regardless of who is at fault.
A driver contacts an insurance agent to purchase this necessary and valuable coverage. The cost of the insurance is based on the driver, the automobile and the use of the vehicle. Drivers can reduce New York auto insurance premiums by combining insurance policies, obeying traffic laws, reducing claims, driving safer vehicles, taking defensive driving courses and asking insurance providers for a list of discounts offered. Increasing the amount the owner is willing to pay in the event of an accident reduces this cost.
When something happens, the New York auto insurance company is contacted and a claim is made. The driver may have comprehensive and collision on the vehicle, which will repair the car or truck if it is damaged, a windshield, is broken or the driver hits a tree. In a collision, the insurance company will investigate and try to collect from the other driver's insurance if the other driver was at fault. Someone injured in an automobile accident needing medical treatment simply submits a claim to the insurance company. It does not matter to the policyholder if the property damage to another car is $500 or $5000; the insured will just pay the amount of deductible with the insurance company covering the balance of the bill.
Obtaining and using New York auto insurance is easy. The driver purchases an insurance policy with the amount of coverage and deductibles he or she wants. When something happens, the driver contacts the insurance company and is only responsible for paying the amount of the deductible. The insurance company will pay the balance of the bills up to the liability limits of the policy.
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