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Friday, March 20, 2009

When Purchasing New York Insurance

By J. Lee

Every State has different laws regarding liability auto insurance. New York auto insurance laws state that by law, insurance has to be a minimum of $25,000/50,000 for injury, $50,000/100,000 for death, and $10,000 for property damages caused by any one accident. Keep in mind that as long as the registration is valid the coverage must be in effect.

The auto insurance needs to by a valid insurance company allow to do in business in New York. They have to be licensed by the Insurance Department of New York State. If the car is registered in New York, it must have New York liability insurance coverage. If you let your insurance policy lapse, your driver license as well as your vehicle registration will be revoked.

Having New York Auto Insurance is essential to have a vehicle as well as drive a vehicle. Do not let your insurance policy lapse for any reason. The cost of having insurance outweighs the financial loss when you do get into an accident. To apply for vehicle registration, you have to provide a proof of insurance.

A no fault state, New York, this means when in a car accident, you do not have to wait for litigation to get medical expenses, incidental cost, or lost wages. They can received them without waiting for them. It doe not matter who is at fault.

The insurance companies are required to pay up to $50,000 to drivers, passengers, and pedestrians involved in the accident for losses incurred. You will need a special form to file this request within 30 days.

All forms need to filed with legitimate evidence of the medical expenses, loss of wages and so on. These will be thoroughly checked by the insurance company to avoid any fraud.

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