State of New York Auto Insurance Requirements
- It is recommended to carry additional levels of auto insurance beyond the state minimum.new york map and flag image by Vladislav Gajic from Fotolia.com
As in most states today, individuals who wish to own and/or operate a motor vehicle in the state of New York must obtain and maintain a minimum level of liability insurance from a registered automobile insurance company. This requirement is intended to reduce the number of uncovered accidents and ensure that drivers are properly prepared for the privilege of driving. In lieu of insurance, drivers may also display proof of financial responsibility in form of a bond or other assurance document. - Traffic is often heavy on the streets of Manhattan.new-york image by Christophe Schmid from Fotolia.com
The basic required coverage consists of No-Fault (Personal Injury Protection), Liability, and Uninsured Motorist insurance maintained a minimum coverage levels. Additional levels are encouraged, though not required. - All drivers are required to carry auto insurance as accidents can happen at any time.emergency injury image by robert mobley from Fotolia.com
No-Fault (Personal Injury Protection) offers prompt payment of medical expenses, as well as lost earnings, sustained by anyone injured in the insured’s vehicle or for a pedestrian struck by the insured’s vehicle. The minimum level of coverage is $50,000 per person per accident. - Mimimum Liability insurance required is $25,000 for injury or death of a person.car crash image by dawn from Fotolia.com
If the insured, or someone driving the insured’s vehicle with his or her permission, is found at fault in an accident resulting in injury or death to another person or damage to property, Liability insurance covers these losses, up to certain limits. Commonly referred to as “25/50/10”, the minimum levels of Liability insurance required in the state of New York include up to $25,000 for injury or death for any one person in any one accident, up to $50,000 for injury or death for any two or more people in any one accident and $10,000 for property damaged in any one accident. - Report an accident to the police to help file a claim.car talk image by Ivanna Buldakova from Fotolia.com
Although required by law, not every driver carries the required insurance coverage. Accidents resulting in injury or death to the insured or someone in the insured’s vehicle, due to the negligence of an uninsured driver, are covered by Uninsured Motorist insurance at the same minimum levels required for bodily injury or death by Liability coverage, as described above. - Purchase additional insurance just in case.Jeep and car after the road accident. image by Dragan Trifunovic from Fotolia.com
Additional (though not required) coverage may include a combination of Bodily Injury Liability, Property Damage Liability, Underinsured Motorist, Collision, Comprehensive, Medical Payments, Accidental Death & Dismemberment, and Gap insurance.
