Tag: New York auto insurance

What is a No-Fault State?

Elizabeth Price
what is a no fault state mean

Article Updated June 1, 2023 – Currently, there are 12 no-fault states in the U.S. These include Florida, Kansas, Hawaii, Massachusetts, Minnesota, Michigan no fault insurance, New Jersey, New York, North Dakota, Pennsylvania, Kentucky and Utah . If you live in a no-fault state, it means that a driver has to first file a claim with their own insurance company if they’re in an accident. Every state sets its own laws as far as who pays for an accident. Sometimes when there’s an accident involving two parties, the goal isn’t…

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New York auto insurance rate calculation factors may soon drastically change

Nordstrom
New York auto insurance rate calculations

A new proposed rule would stop education and employment from affecting a policyholder’s premiums. State Financial Services Superintendent Maria Vullo proposed a change to the New York auto insurance rate calculations. The change would stop insurance companies from using a motorist’s education level or job from being used as a factor in determining that driver’s rates. The only exception is if the insurance company can prove the job status or education level directly affects driving. The proposed New York auto insurance rules change would only allow insurers to continue using…

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New York auto insurance companies may be stopped from asking a person’s occupation

Julie Campbell
New York Auto Insurance

The state regulator is considering implementing a ban on the use of a customer’s job to calculate premiums. New York auto insurance premiums calculations may soon deviate from strategies used by most U.S. states. The industry regulator is currently deciding whether or not to ban the practice of using a customer’s occupation as a factor in calculating rates. The New York Department of Financial Services has asked leading insurers why the practice is used. It has requested this information from Allstate Corp., the Geico unit at Berkshire Hathaway Inc., Progressive…

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New York home to third highest auto insurance premiums in the country

Nordstrom
auto insurance fraud

Study shows that auto insurance premiums in New York are higher than the national average New York is a notoriously expensive state, with a high cost of living and an abundance of luxuries that few other states can rival. For drivers, the costs associated with living in New York are all too clear. According to a study from InsuranceQuotes.com, the state is home to the third highest auto insurance rates in the United States. Though New York falls behind both Michigan and Rhode Island in terms of insurance premiums, this…

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New Yorkers can now prove they have auto insurance with their smartphones

Julie Campbell
auto insurance premiums car mobile smartphone

Another state has now joined the growing number across the country allowing for electronic proof formats. According to a recent announcement from a spokesperson from the New York State Department of Motor Vehicles, the state has now implemented a regulation that will make it possible for drivers to be able to show their proof of auto insurance either in the traditional way with a paper card, or in an electronic format that can be displayed on mobile device screens. The new proof of insurance regulation has actually been in effect…

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