The state of New York has the minimum insurance values preset and it is $25,000 for bodily injury liability, $50,000 coverage for each individual during an accident and $ 10,000 as liability for damage in property and this is often denoted to the public as the as 25/50/10 coverage. However, what's interesting to note in case of New York Auto Insurance is the fact that the state of New York uses a No Fault system, which signifies that the insurance company up to a certain limit will bear the payments for your claims, even if the fault is on the other side. This system varies from state to state.
It is also possible to take the bodily cover for injury caused to an uninsured or underinsured driver with the help of the Uninsured or Underinsured Motorists injury coverage. The auto insurance rate in the New York City, on an average is around $1,313 and the national average was $914 during the year 2003. Many people believe in the fact that rates are fixed and they cannot do anything about it. But, little do such folks know about the bitter reality that spending some time, researching better pricing over the internet would guide you to find the most competitive rates.
Moreover, it is also important that you remain up-to-date with the current market trends and the variations in the New York Auto Insurance Rates. As per recent statistics, the rates have decreased in the start of 2007 and there was a fall of 0.5 - 1% in the rates in comparison to the rates in 2006. A further fall in the rates is expected if the same trend continues, though the experts predict that there'll be a sudden upsurge by the year end, or the earlier part of the next year. So, it is a pretty good time to grab a new NY auto insurance policy.
There are many websites that help you with the most competitive NY auto insurance rates and even help in minimizing your efforts by bringing the best quotes directly to you, merely with a single click of your mouse. The insurance policies also reduce the New York auto insurance rates due to the fact that everything is done electronically with the help of technological advancements and there is no need to pay for the third agents' commissions too.
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