Compare accounts
Get guidance
Compare accounts
Get guidance
Money market accounts
Money market accounts are similar to savings accounts, but offer some checking features as well.
Get guidance
Banking
Skip the searching and find your next bank in minutes with BankMatch℠.
Get guidance
Compare rates
Get guidance
Home equity
Home equity is the portion of your home you’ve paid off. You can use it to borrow for other financial goals.
Get guidance
Buying & selling
Find an expert who knows the market. Compare trusted real estate agents all in one place.
Get guidance
Home insurance
Home insurance doesn't have to be a hassle. Choose the best home insurance company for you.
Get guidance
Compare investments
Get guidance
Compare plans
Get guidance
Finding an advisor
Get guidance
Life insurance
Life insurance doesn’t have to be complicated. Find peace of mind and choose the right policy for you.
Get guidance
Compare cards
Find your fit
See your card matches
Answer a few quick questions and we’ll show you your top credit card options.
Compare cards
See what the experts say
Read in-depth credit card reviews to find out which cards have the best perks and more.
Get guidance
Compare lenders
Get guidance
Compare lenders
Get guidance
Manage your debt
Start making moves toward your money goals and compare your debt management options.
Get guidance
Compare lenders
Get guidance
Business credit cards
Boost your business with rewards, perks and more. Compare cards in one place to find the one for you.
Get guidance
Auto loans
Figure out funding for your next car or refinance with confidence. Check out today’s auto loan rates.
Get guidance
Auto insurance
Drive with peace of mind when you compare insurance carriers and find the policy that’s right for you.
Get guidance
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free – so that you can make financial decisions with confidence.
Our content is backed by Coverage.com, LLC, a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed . Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
The offers that appear on this site are from companies that compensate us. This compensation may impact how and where products appear on this site, including, for example, the order in which they may appear within the listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. But this compensation does not influence the information we publish, or the reviews that you see on this site. We do not include the universe of companies or financial offers that may be available to you.
On This Page
On This Page
At Bankrate, we strive to help you make smarter financial decisions. To help readers understand how insurance affects their finances, we have licensed insurance professionals on staff who have spent a combined 47 years in the auto, home and life insurance industries. While we adhere to strict , this post may contain references to products from our partners. Here’s an explanation of . Our content is backed by Coverage.com, LLC, a licensed entity (NPN: 19966249). For more information, please see our .
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our insurance team is composed of agents, data analysts, and customers like you. They focus on the points consumers care about most — price, customer service, policy features and savings opportunities — so you can feel confident about which provider is right for you.
All providers discussed on our site are vetted based on the value they provide. And we constantly review our criteria to ensure we’re putting accuracy first.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU — the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Most states mandate that drivers maintain a minimum level of auto insurance coverage to legally drive. Some states, including New York, also require that drivers carry personal injury protection coverage (PIP). If you are shopping for car insurance in New York, personal injury protection will be a mandatory part of your policy. Finding the right PIP insurance in New York is a matter of understanding what kind of coverage fits your needs and budget. Bankrate’s insurance editorial team explains how PIP works in New York so you can ensure that you are getting the coverage you need.
Compare rates and save on auto insurance today!
Rates keep going up in 2022. Get a new quote and save today.
Compare rates and save on auto insurance today!
Save on auto insurance with quotes from trusted providers like:
Drivers switch & save an average of $750+/year
Are you overpaying for auto insurance?
Safe drivers choose Allstate®
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Costs will continue to rise through 2022. Shop for a better rate before you renew your current policy.
Save on auto insurance with quotes from trusted providers like:
Drivers switch & save an average of $750+/year
Are you overpaying for auto insurance?
Safe drivers choose Allstate®
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
Personal injury protection, or PIP, is a required coverage in most no-fault states. You may even hear it referred to at times as no-fault insurance. PIP coverage ensures that the cost of medical expenses and lost wages as a result of a car accident are covered, at least in part, for the driver and any passengers in the vehicle, regardless of who was at fault for the accident.
In addition to personal injury protection in New York, drivers are also required under New York car insurance laws to carry at least the minimum levels of several other types of coverage as well to legally drive. This includes liability coverage, which pays for any damages done to another person (beyond what PIP covers) or property. You will also need to maintain statutory uninsured motorist bodily injury coverage, which helps to cover any injuries sustained in an accident with a person who does not have insurance.
If you are involved in an accident as a driver in New York, PIP coverage will help to pay your medical expenses and lost wages that are the result of that accident. Coverage is provided up to your policy’s limit. PIP coverage kicks in no matter who is at fault for the accident, as New York is a no-fault state. However, that does not mean that one party is not considered at fault for an accident. While PIP is paid out first, insurance companies will still determine which driver is considered primarily responsible for the accident and that driver’s liability coverage will pay for any additional medical bills or property damage.
Here is how PIP insurance in New York works:
To understand this, here is an example of PIP in action: Let’s say you are driving through an intersection with a green light and another driver runs a red light and hits the side of your car. You both sustained minor injuries in the accident. Your personal injury protection coverage pays for your medical expenses up to the limit on your policy. The other driver’s PIP covers their own injuries. The insurance companies review the account of the accident from you, the police and the other driver and determine the other driver to be at fault. At that point, their liability coverage would kick in and pay for any of your additional medical expenses not paid by your PIP coverage.
The minimum PIP coverage amount in New York is $50,000. You can always add Additional PIP coverage and Optional Basic Economic Loss (OBEL) coverage to extend your cap for coverage. Additional PIP extends your PIP coverage another $50,000 (for a total of $100,000 in coverage). OBEL offers an additional $25,000 of basic economic loss coverage, which includes payouts for lost wages, rehabilitation after an injury and other forms of economic loss.
There are some situations where you cannot use PIP coverage in New York, including if you are riding in an ATV or are injured while committing a felony. Additionally, if you’re found to have been intoxicated, your PIP coverage may pay for emergency health services, but your insurer has the right to collect that money back from you.
PIP insurance in New York is mandatory. You must carry at least $50,000 of PIP coverage as part of your auto insurance policy. Most states in the U.S. maintain some type of minimum car insurance requirement to legally drive in the state. In New York, minimum coverage requirements are:
Statutory uninsured motorist statutory coverage only provides coverage if the accident happens within New York. Outside of state lines, your statutory coverage would not apply. You can purchase supplemental uninsured motorist coverage, which offers uninsured and underinsured motorist coverage both inside and outside of the state, but it is not required as part of the minimum coverage for New York.
The average cost of car insurance in New York is $3,139 per year for full coverage and $1,371 for minimum coverage. Auto insurers in New York cannot sell you less than the minimum amount of coverage required by the state, so the minimum amount of PIP coverage you need will be included in any quotes you receive, regardless of the coverage options you select.
Your actual cost for PIP insurance in New York will vary based on a number of factors, including details about your driving history, age, location and information about your vehicle, such as its age, make and model. When you apply for auto insurance, the insurance provider will give you an insurance quote that provides an estimated premium based on the coverage you select as well as the level of risk it assumes you present based on these and other factors.
Once you have secured coverage, you can see exactly how much you are paying for PIP by looking at your policy’s declarations page, which includes details about your policy.
PIP is a commonly misunderstood type of car insurance coverage. If you live in New York, keep these key things in mind when it comes to your personal injury protection:
Temporary car insurance in New York
Best car insurance in New York
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Bankrate, LLC NMLS ID# 1427381 | NMLS Consumer Access
BR Tech Services, Inc. NMLS ID #1743443 | NMLS Consumer Access
© 2023 Bankrate, LLC. A Red Ventures company. All Rights Reserved.
