New York Car Insurance
Each state has their own laws governing car insurance companies. Therefore, before purchasing car insurance, it is important to know what the state regulations are. Some states are stricter than others when it comes to what kind of automobile insurance, if any, is required. New York State has very strict regulations when it comes to car insurance.
Before you can even register a vehicle in New York State or obtain license plates you are required to obtain automobile insurance. At a minimum, you are required to purchase an automobile liability insurance policy from an insurance company that is licensed by the New York State Insurance Department. This liability policy must provide, at a minimum, the following:
* $25,000 to cover bodily injury caused to another person
* $50,000 to cover bodily injuries caused to everyone
* $10,000 to cover property damage
You can purchase more insurance coverage if you choose to or if you are required to in order to cover a loan that is secured by your vehicle. Any insurance policy that is purchased must be purchased and maintained by the registered owner of the vehicle. Lastly, liability insurance must be carried at all times on a registered vehicle, even if it is not in use. These policies can easily be found online at places like Albany car insurance.This does not apply to motorcycles.
If your insurance lapses at any time for any reason on a registered vehicle you are required to immediately surrender the license plates to the Department of Motor Vehicles (DMV). Failure to do so will result in your registration being suspended for the same number of days that your insurance lapsed. If the lapse in insurance coverage exceeds ninety days without surrendering the license plates, your driver's license will also be suspended for the same amount of time that your registration is suspended. Upon completion of the suspension, you will be required to pay a $25 termination fee before you can get your driver's license back.
There is a way to avoid suspension of your registration and license as long as the lapse in insurance coverage doesn't exceed ninety days. You have the option of paying a daily civil penalty rather than surrendering your plates, providing that you have not used this option within the past three years. The penalties start at $8 per day, per vehicle, for the first thirty days. From day 31 through 60 the penalty goes to $10 a day, per vehicle. From day 61 through day 90 the penalty goes up to $12 a day, per vehicle. It makes more sense to pay your car insurance, which would probably cost less than the civil penalties. For one car, it would cost you $240 for a thirty day lapse in coverage.
The car insurance requirements in New York State differ significantly from many other states. They are very strict on their requirements and the repercussions for not following them can be very expensive. Check with your Local Department of Motor Vehicles for more information on New York State automobile insurance requirements.