Car insurance prices in New York vary from driver to driver, due to a variety of factors including:
- Types of coverage and the chosen limits
- Garaging location
- Years of driving experience
- Driving record
- Type of car insured
Rates can vary greatly within a state. A person who lives in a city like Buffalo will likely pay a higher premium than they would pay if they lived in a suburban or rural town. Cities are more congested, and the risk of an accident with another car is greater than if a person drives in a smaller town.
Minimum insurance coverage requirements in NY
Car insurance is mandatory in New York, and you must carry at least the following coverage at the below minimum limits:
| Required coverage | Minimum limits |
|---|---|
| Bodily injury liability | $25,000 per person / $50,000 per accident |
| Property damage liability | $10,000 per-accident |
| Personal injury protection | $50,000 per-person |
| Uninsured motorists | $25,000 per person / $50,000 per accident |
Bodily injury liability coverage — protects you, a household member or another authorized driver of your vehicle against legal liability for the accidental injury or death of others caused by the operation of your car. You are required to buy at least $25,000 per person and $50,000 per accident for injuries to others that do not result in death. For injuries resulting in death, the limits scale up to $50,000 per person and $100,000 per accident.
Property damage liability coverage — pays for damage to another person’s property when you, a household member, or another authorized driver cause a crash. There’s a minimum coverage limit of $10,000 per accident.
Personal injury protection (PIP) — pays for medical costs that you and your passengers incur in the event of an accident, no matter who was at fault. PIP also covers rehabilitation, replacement services, and even lost wages. PIP is a requirement for car insurance policies in New York, with a minimum coverage limit of $50,000.
Uninsured motorists coverage — protects you, anyone you let drive your car, household members, and passengers against losses caused by an uninsured driver within the state of New York. Uninsured drivers are those without insurance, as well as unidentified (“hit-and-run”) drivers.
You are required to buy at least $25,000 per person and $50,000 per accident for injuries to others that do not result in death. For injuries resulting in death, the limits scale up to $50,000 per person and $100,000 per accident.
Supplementary uninsured/underinsured motorist coverage, or SUM coverage, is an optional coverage you can purchase that provides protection beyond your required uninsured motorist coverage.
Not only does SUM cover everything UM covers, it also covers injuries from an underinsured motorist. An underinsured motorist is one whose liability limits are too low to cover the injuries they cause. SUM also covers you and your family anywhere in the United States, its territories and Canada.
What does full coverage auto insurance mean?
“Full coverage” typically means that a car insurance policy has both comprehensive and collision coverage for the vehicle, in addition to the required liability coverages.
New York does not require coverage for damage to your own car. However, your lender or leaseholder may require you to carry those coverages as a condition of car loan or lease.
How to determine what level of insurance is right for you
Balancing financial risk and the cost of your insurance policy is a personal decision based on your own unique needs.
Consider aspects like the value of your car and the amount that you’re comfortable spending in the event of an accident or even a total loss.
Your ability to pay for medical expenses for yourself or another party in the unfortunate case of an accident that causes injuries should also be an important factor when thinking about how much coverage you need.
If you’re looking for more information, including ways to bring the cost of your car insurance in NY down, call Plymouth Rock today and see how much you can save!
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