How to find the best car insurance in New York
Finding the best auto insurance company in New York will depend heavily on your individual needs and the location-specific factors in your area. However, there are things you can do to make the process of shopping for New York car insurance easier.
Consider minimum insurance requirements in New York
Auto insurance is required in New York. You cannot register your vehicle at the New York Department of Motor Vehicles (DMV) until you purchase a policy. The state minimum limits include bodily injury liability and property damage liability, both of which have a “liability per person” and “liability per accident” limit. New York drivers must also purchase at least minimum limits of personal injury protection (PIP) and uninsured motorist coverage.
Rest assured that you do not need to memorize New York’s car insurance laws — you will not be able to buy a policy that does not comply with the minimum limits. But knowing the state minimum level of coverage could help you understand if you need higher limits or additional coverage options.
Consider lender requirements
If you have a loan or lease, your lender probably requires you to have full coverage. Minimum coverage limits do not include optional comprehensive coverage or collision coverage, which provide coverage for damage to your vehicle. To get those, you will need to buy a full coverage policy. Lease owners may also have higher requirements for bodily injury liability and property damage liability, both the liability per person and liability per accident limits. You may also want to consider purchasing gap insurance. If your new vehicle is totaled and the claim payout is less than the balance on your loan, gap insurance is designed to pay for the difference.
Consider your individual needs
To evaluate your car insurance needs, consider a few factors such as whether you have a teen who is about to start driving, your vehicle make and model, credit history and driving record. Each of these factors could affect your New York car insurance premium, so it is important to consider each carefully. For example, if you just purchased a brand new electric vehicle, many New York auto insurers offer a new vehicle discount or an electrical vehicle discount. Knowing which insurance companies offer these discounts could help you save.