Auto insurance rules vary from state to state. As always, New York is a little different. Before learning more about the subject of New York auto insurance regulations, consider how it differs from others.

New York State Traffic Data

Everyone knows that New York City has the largest population of any city in the United States, yet the New York City Subway is the largest transportation system in the world. Despite the enormous time spent traveling between home and work, which averages between 60 and 89 minutes, 50 percent of commuters are safely dependent on public transportation. 530,791 people leave for work between 8:00 am and 8:29 am, making this the busiest time on the highway. This is why New York City is among the top 5 cities in the world for the highest cost of auto insurance.

What are New York State Insurance Regulations?

With this information in mind, New York auto policies have been created quite uniquely. Help us understand first. You agree to the “no-fault system” whereby the insurance company part with a specific amount if you or another driver is at fault. The 25/50/10 coverage will always be required on your auto insurance policy. The minimum amount set for any bodily injury liability insurance is $25,000 per person and $50,000 for two or more parties; this is in addition to a property damage liability award amounting to not less than $10,000. New York auto insurance rules insist that drivers carry at least a certain amount of Personal Injury Liability (PIP) coverage, the $50,000 insurance coverage is intended to cover medical expenses in the event you are injured. file a claim.

It is a completely different problem, if the drivers involved in the accident are uninsured or underinsured. Referred to as Uninsured/Underinsured, it is a mandatory clause however. (UM/Uninsured Motorists) Standard or Supplemental (TOTAL) insurance coverage is at least $25,000 or $50,000 as the case may be, for each accident incident and each victim.

New York Auto Insurance Savings Tips

Insurance in the New York area will always be more expensive than anywhere else. There are other ways that will help you reduce your costs. The basic coverage plan such as not using the car for business purposes. Opting for a small car, installing safety devices like seat belts, anti-lock brakes, car alarms, tracking systems, and keeping it in a garage can try to lower your deductible.

To save even more, it’s always best to buy all your insurance policies from one company. If you meet these requirements, you may be able to get a multi- or multi-family policy discount. It is important to maintain a high credit rating history. By doing this, it will help you negotiate a cheaper New York insurance rate.

And always remember, shop around as much as you can. Look up rate quotes from multiple companies, then shop around.