New York drivers are required to possess auto insurance on any registered vehicle, even if that vehicle is just sitting parked in your garage. What’s more important is that this auto insurance coverage meet minimum insurance requirements put into place by the state. Current (2010) New York minimum auto insurance requirements are at least $25,000/$50,000 in bodily injury liability, $10,000 in property damage liability, $25,000/$50,000 in uninsured/underinsured motorist coverage and $50,000 in personal injury protection.

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Average New York Auto Insurance Rates

Although New York is a very expensive state to live in, you might be surprised to know that its average car insurance premiums are well below the national average of $1,440. In New York drivers pay an average of $1,339 per year on their automobile insurance premiums. Fortunately, in a state as vast a New York, you have plenty of options to choose from. Both large name providers like GEICO and Allstate and smaller, more localized, providers offer auto insurance coverage to drivers of all risk profiles. It’s up to you to find the best auto insurance rates so always compare auto insurance quotes from multiple providers.

What are the Penalties for Driving with no Auto Insurance in New York?

As  New York driver, you probably already know that there are hefty fines and fees imposed for those who are caught driving without a license. What you might not know, however, is that you can also find yourself in trouble if your car insurance coverage lapses. This means that even if you are late for only one payment, you could find yourself in serious trouble. In fact, when drivers lapse on their coverage for a period of one day to a month, they will be fined a whopping $8 a day. At first glance, that might not seem like a lot, but it adds up quickly, especially when you consider the fact that going for a month, on average, without coverage, will cost you $240. You probably could have paid your car insurance for that amount. If you go over a month lapsed in coverage and up to two months you will be fined $10 a day, which is $600 over  a two month period! For lapses from two to three months, you will be fined $12 per day. $12 per day for a mere three months is $1,080, almost as much as the average driver pays per year for his or her car insurance. These fines are in addition to the great personal liability you expose yourself to without auto insurance in place!

Obviously, you’ll want to avoid such lapses in payment whenever possible. The best way to prevent this, of course, is opting for coverage that you can afford. This means finding the right provider, but it also means thinking thoroughly before you make a decision as to which provider to go with. Before you purchase auto insurance evaluate your budget and make sure you’re choosing a policy that you can reasonably afford. While it is never a good idea to not get the coverage you need, you have to do what your income will allow. Choosing auto insurance coverage you simply can’t afford is obviously a good way to lose money in the long run.

Secondly, if you ever run into a problem and become aware that you will not be able to pay your car insurance for a particular month, don’t be afraid to talk to your provider about policy payment options. Many auto insurance companies have flexible payment plans to accommodate a variety of situations.

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