Required and optional coverage for New York resident auto insurance
There are some insurance options that are required per New York state law, and which means you are required to have automobile insurance. There are some options that are not required and the applicant may choose which options they would like to add. This is what is known as optional coverage.
New York is required to purchase certain minimum amounts of auto insurance to satisfy the financial responsibilities of owning and operating these vehicles. These include Personal Injury Protection or PIP. The other required option is the Bodily Injury Liability that protects you against claims alleging your negligence or fault in the accident. These are required by the state of New York and the amount required is $25,000/$50,000, with limits of $50,000 to $100,000 respectively, in cases of death. The Uninsured Motorists helps to cover the injury protection for you and your family. Property Damage Liability protects against damage to another person's automobile or property and the minimum amount here is $10,000.
Optional Coverage
The optional coverage is provided by New York auto insurance companies as additional protection, and do not require state-mandated minimums. Optional insurance helps to protect you and your family, in case of an auto accident. Some of these options include comprehensive, collision coverage, and uninsured motorist.
Cancellation and Non-renewal for residents
New York auto insurance companies are not allowed to cancel your auto insurance policy once it is active for 60 days, unless the driver's license is suspended. However, if the policy holder doesn’t pay their premiums or commit fraud, the insurer can cancel their coverage. For an insurer to cancel a policy holders insurance, the notification must be sent at least 20 days prior to its effective date.
Auto insurance quotes for residents
Once vehicle owners are aware about these facts, they should start looking for auto insurance quotes. Quotes are provided on the basis of the requirements of the consumer, but can be very flexible. If you run your quote and would like to add additional coverage you should contact your insurance company. All these auto insurance quotes are easily available online for the residents of New York.