Wednesday, May 31, 2006
Albany to pass law banning out of state registration
A common practice in New York is about to come to a crashing halt. Lawmakers in Albany are planning to make it illegal for New York residents to register their cars out of state. Due to extremely high insurance rates, New Yorkers have been registering ad insuring their cars on out of state addresses in order to get lower premiums. New York State has the highest insurance premiums in the entire country. The national average insurance is about $400. This practice, although frowned upon by the insurance companies, is not currently illegal and authorities can therefore do nothing to stop this from happening. The most common action taken against a motorist that registers out of state is to have his insurance cancelled if his ploy is found out. However, in the event that a driver is involved in a serious accident, the insurance company may launch a full investigation into the situation. If it is found that the car is not actually driven by the out of state registrant the insurance company can then nullify the policy, leaving the driver retroactively uninsured and liable for all the damages by himself. Chap arein while you can, the party is almost over.
A common practice in New York is about to come to a crashing halt. Lawmakers in Albany are planning to make it illegal for New York residents to register their cars out of state. Due to extremely high insurance rates, New Yorkers have been registering ad insuring their cars on out of state addresses in order to get lower premiums. New York State has the highest insurance premiums in the entire country. The national average insurance is about $400. This practice, although frowned upon by the insurance companies, is not currently illegal and authorities can therefore do nothing to stop this from happening. The most common action taken against a motorist that registers out of state is to have his insurance cancelled if his ploy is found out. However, in the event that a driver is involved in a serious accident, the insurance company may launch a full investigation into the situation. If it is found that the car is not actually driven by the out of state registrant the insurance company can then nullify the policy, leaving the driver retroactively uninsured and liable for all the damages by himself. Chap arein while you can, the party is almost over.
Comments:
i registered my car with a NY addresss at an out of state DMV
how cool am i
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how cool am i
Comment Credit ---This article posted by 
: May 31, 2006 12:12 PM
: May 31, 2006 12:12 PM
