Whether you commute for two hours to and from work each day or drive once a week or less, a good automobile insurance policy is one of the best investments you can make. Even if you are a careful driver who has never been in an accident, you cannot control the actions of the drivers around you, and you may find yourself in need of the protection that your insurance can offer.
If you own a vehicle in the State of New York, you are required by law to carry insurance. The New York No-Fault law mandates coverage so that in most small accident cases, each driver’s insurances will cover their damages, regardless of who was at fault for the accident. If you are uninsured, you will not be allowed to sue the other driver for a minor accident, even if the accident was completely the other person’s fault. If you do not have your own insurance, your repairs and medical expenses will be out of pocket.
Although you are only required to carry the minimum amount of $50,000 in insurance, you should always opt for additional coverage. For any damages above the no-fault limit, an injured party may sue the person responsible for the accident, and you could be personally liable if the accident is determined to be your fault.
No matter how careful of a driver you are, you can still be prone to distractions, make an error, or experience a mechanical problem that may lead to a collision. Even if the mechanical problem was not your fault, the other driver can sue you if he is injured in an accident caused by your vehicle. If you do not carry insurance above the $50,000 limit, you could find yourself owing a significant amount of money, which could lead to liens on your property or garnishment of your wages.
Your auto insurance can also help if you are the victim of an accident that was not your fault. Uninsured motorist coverage will pay you if you are injured by an uninsured driver, or by a driver who carried only the minimum coverage. In addition, your insurance may include benefits for medical expenses and lost wages, which can reimburse you for those expenses while a claim is pending. These benefits can be crucial if you are unable to work and need help to pay your bills while you are waiting for a settlement.
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