New York limits insurance companies’ ability to impose surcharges on customers following car accidents. This means that insurers are prohibited from increasing your base premium after a car motor vehicle collision, provided that:
- Your claim was filed under your comprehensive coverage.
- Damages for your accident amounted to less than $2,000, and there were no physical injuries or fatalities resulting from the crash.
The limitations are lifted, however, if you are involved in two or more accidents, regardless of the amount of damage. Expect your premiums to go up in this case.
So how much does car insurance go up after an accident in New York? That depends on the policy and insurer. According toNerdWallet, the average annual cost of insurance after one accident is $1,320.
In This Article
- Understanding Insurance Rate Increases After an Accident
- How New York Car Insurance Differs from That in Other States
- New York’s Insurance Level Requirements
- Choosing Your New York Automobile Insurance Provider
- You May Qualify to Sue for Compensation After an Accident
- A Lawyer from Our Firm Can Review Your Insurance Policy and Build Your Case
- We Will Handle Your New York Car Accident
Understanding Insurance Rate Increases After an Accident
Insurance companies shy away from risk. When you are involved in a car accident, even if you did not cause the collision, your insurer might categorize you as presenting a higher risk than someone with a blemish-free driving record. As a means of offsetting this risk, your insurance carrier may decide to increase your base car insurance premium.
Typically, insurance companies review your record going back from three to five years to determine your rates.
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How New York Car Insurance Differs from That in Other States
New York is a no-fault state, meaning that your insurance company will pay for your medical bills and lost wages (up to a certain amount), regardless of who caused the accident.
As such, fault only enters the picture if someone who was injured in the car accident, other than the at-fault party, meets the state’s no-fault threshold (damages over $50,000 or “serious injuries” resulting from the accident). In this case, the injured person can file a personal injury lawsuit against the at-fault party, which could tap into that driver’s insurance, driving up their insurance premiums.
The limitations are lifted, however, if you are involved in two or more accidents, regardless of the amount of damage. Expect your New York car insurance rates to go up in this case.
New York’s Insurance Level Requirements
New York drivers with cars registered in the state are required to buy New York State (NYS) liability insurance from an in-state insurance provider. The state also requires that you carry a minimum liability as follows:
- $10,000 for property damage caused by a single collision
- $25,000 for bodily injury to one individual; $50,000 for one, accident-related fatality
- $50,000 for bodily injury to two or more people; $100,000 for two or more accident-related fatalities
The DMV can suspend both your driver’s license and your vehicle registration if you do not maintain New York State-issued automobile liability insurance coverage.
Choosing Your New York Automobile Insurance Provider
The New York Department of Financial Services (DFS) provides a ranking of automobile insurance companies based on how many consumer complaints were upheld against each provider in a two-year timeframe. The 2021 Auto Complaint Ratios document is available on the DFS site for your consideration in choosing an insurance provider.
DFS also offers an Auto Insurance Resource Guide to facilitate your insurance purchase further. The online resource provides information on:
- Minimum auto insurance requirements
- Applying for auto insurance
- Cancellation and renewal
- Discounts and saving money
- Filing claims
- Gap and umbrella policies
- Difficult-to-insure vehicles
- Trouble getting coverage
If you decide to file an insurance claim for a New York car accident, one of our attorneys will review your insurance coverage policy and provide legal options for pursuing compensation.
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You May Qualify to Sue for Compensation After an Accident
If you or a loved one was injured in a vehicle accident in New York, you may qualify to demand compensation from the at-fault or liable party. Our law firm regularly handles personal injury cases involving car accidents. We will review your case to determine your legal options, be it filing an insurance claim or a civil action lawsuit.
Through litigation, you may be able to pursue compensation for various types of damages, such as:
- Medical expenses: This includes current and future costs for surgeries, medications, doctor’s appointments, physical therapy, lab work, hospitalization, and emergency care. You may also demand compensation for medical equipment you had to buy as well as modifications you commissioned in your home to accommodate your injuries.
- Property damage: Many plaintiffs are able to recover funds to pay for vehicle repairs or the actual cash value of their vehicle if it was damaged beyond repair in the accident. If other property was damaged in the accident, you may demand compensation for those repair/replacement expenses as well.
- Pain and suffering: This category covers most physical and emotional losses. Our legal team will listen to the experiences you’ve endured and assign a monetary value that appropriately reflects the pain and suffering you’ve felt. This can include damages like physical disfigurement, permanent disability, and emotional distress.
- Income loss: If your injuries forced you out of work temporarily or permanently, you have a right to demand compensation for your lost wages. Our attorneys will provide evidence of your average weekly earnings and show how much income you lost and might expect to lose until you recover from your injuries.
You may qualify for other damages not listed in this article. Our team will inform you of other damages you may include in your case value estimate.
A Lawyer from Our Firm Can Review Your Insurance Policy and Build Your Case
If you decide to work with a car accident attorney from our law firm, we offer these services to all of our clients:
- We will update you as your case moves forward in the claims or litigation process and provide counsel on what these updates mean.
- We will conduct a separate investigation into your accident to collect evidence to support your case.
- We will handle communications with insurance adjusters, defending attorneys, law enforcement, and other involved parties on your behalf.
- We will fill out legal paperwork and make sure they are submitted according to their deadlines to protect you from having your case dismissed.
- We will represent you in private negotiation meetings or court hearings and advocate for your right to receive compensation.
Our team is also available to answer any other questions you have about your case. If you would like to learn more about our services, we offer the first consultation for free when you call.
We Will Handle Your New York Car Accident
If you were involved in a car accident in New York, the legal team at Friedman & Simon, L.L.P. will talk to insurers on your behalf, calculate your damages, and if you want to pursue a personal injury action, prove fault and liability and represent you in court. We also handle dog bites and medical malpractice cases.
Call us at (516) 932-0400 for a no-cost, no-obligation consultation.