New York law requires drivers to carry bodily injury liability coverage with minimum limits of $25,000 per person and $50,000 per accident. Drivers must also carry property damage liability coverage with a minimum limit of $10,000 per accident.
In addition, New York drivers are required to carry uninsured/underinsured motorist bodily injury coverage with minimum limits of $25,000 per person and $50,000 per accident.
Insurance professionals sometimes shorthand how much your policy covers for easy reference. For example, a car insurance policy with the New York minimum insurance limits will be shown as 25/50/10. These numbers indicate the coverage limits for the insurance policy in thousands of dollars.
Is New York a no-fault state?
Yes, New York is a no-fault state and requires you to have at least $50,000 of Personal Injury Protection (PIP). This provides medical coverage for the driver and the passengers if there’s an accident, no matter who was at fault. PIP also covers bodily injury to pedestrians and cyclists that the driver causes.
Understanding your New York auto insurance limits
The terms “auto insurance limits” and “coverage limits” refer to the maximum amount an insurer will pay in the event of a loss that is covered under your insurance policy.
The higher the limit, the more the insurer will pay in the event of an accident. You’ll pay less out of pocket, but your insurance policy will cost more. Carrying lower limits can reduce your premium payments, but it comes with the risk that you’ll be responsible for higher out-of-pocket costs in the event of an accident.
Is minimum car insurance enough in New York?
The minimum auto insurance coverage in New York may be enough for some drivers, but not for others, it truly depends on your unique situation.
Consider aspects like the value of your car and the amount that you’re comfortable spending in the event of an accident or even a total loss.
Your ability to pay for medical expenses for yourself or another party in the unfortunate case of an accident that causes injuries should also be an important factor when thinking about how much coverage you need. If you have any questions, the passionate insurance experts at Plymouth Rock would love to discuss your particular needs.
What are the required car insurance coverages in NY?
The required car insurance coverages in New York include bodily injury liability, property damage liability, uninsured/underinsured motorist bodily injury coverage, and Personal Injury Protection (PIP).
Bodily injury to others
Protects you against legal liability for the accidental injury or death of others (excluding your passengers) caused by the operation of your car. You are required to be covered up to a basic limit of $25,000 per person and $50,000 per accident by your car insurance in New York.
Property damage liability
Pays for damage to another person’s property when you, a household member or another authorized driver, cause an accident. Typically, this will be another person’s vehicle. You need at least $10,000 of coverage to meet the New York minimum insurance limit requirement.
Bodily injury caused by uninsured or underinsured motorist
Protects you, anyone you let drive your car, household members and passengers against losses caused by an uninsured or underinsured driver.
Uninsured drivers are those without insurance, and this also covers unidentified (“hit-and-run”) drivers as well. An underinsured driver is one who has liability insurance, but not enough to cover your injuries. New York state requires a minimum limit of $25,000 per person and $50,000 per accident.
Personal Injury Protection (PIP)
Pays for medical costs for you and your passengers in the event of an accident, no matter who was at fault. PIP also covers rehabilitation, replacement services and even lost wages. PIP is a requirement for car insurance policies in New York, with a minimum coverage limit of $50,000.
What are the major types of optional auto insurance coverages in NY?
Common optional coverages for car insurance customers in New York include comprehensive coverage, collision insurance, medical payments coverage beyond the mandatory PIP requirements.
Comprehensive coverage
Protects your car from damage NOT related to a collision with another vehicle. This includes things like natural disasters and storms, fires, vandalism, damage caused by hitting an animal and more.
Collision insurance
Covers the cost to repair or replace your car after a collision with another vehicle or stationary object. Collision coverage only covers damage to your car or someone else’s car that you are operating with owner permission. It does not cover the damage you cause to other vehicles; you’ll need property damage liability coverage in that case. Collision does not cover mechanical breakdowns or wear and tear.
Coverage for medical payments beyond the mandatory PIP requirement
Takes care of reasonable expenses for necessary medical and funeral services incurred by anyone occupying your vehicle because of an accident, or incurred by you and any household member if struck by an auto or while occupying someone else’s auto at the time of an accident. We offer additional limits ranging from $25,000 to $100,000.
Loan/lease gap insurance
Covers you in the case you’ve totaled your car to the point where the cost of repairing it exceeds its actual cash value, but you’re still making payments.
Collision and comprehensive coverages pay no more than the actual cash value of your vehicle just before the accident occurred. Sometimes, you might owe more than that on your loan or lease.
For a covered Collision or Comprehensive loss, loan/leap coverage will pay the difference between the actual cash value of your car and the remaining balance on your loan or lease.
What happens if you drive without insurance in New York?
Driving without insurance in NY can carry severe penalties. Drivers without insurance can possibly face fines, registration and license revocation, vehicle impoundment, and even jail time. The NY DMV has a simple rule, “No insurance, no plates!”
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This page is for informational purposes only. Actual coverage may vary and is subject to the policy issued by your insurer. Restrictions and limitations may apply. Review your policy and consult a licensed insurance professional to learn more about your coverage.