New York Auto Insurance Laws
In new york all drivers need to have this type of insurance.
New york auto insurance laws. While the law sounds uber wonky its quite important due to a fundamental misunderstanding of how auto insurance works by the general public. As stated above automobile insurance is required by law in new. Last night new yorks gov. Car insurance is required in almost all states.
New york no fault auto insurance laws and regulations keep in mind that the no fault rules only apply to car accident injuries in new york. If you fail to maintain coverage you could be in violation of the lawthere are a handful of states that dont require you to purchase car insurance but. In addition some car rental companies offer higher liability limits than the required 255010 at an additional cost. The minimum car coverage requirements are only 25000 for the injury to any one person in a car crash.
New york requires that motorists carry a minimum liability amount of 25000 for injury to a single person and a minimum of 50000 for injury to all of the people that are in the car. Statutes regulations and circular letters for property casualty lines the tables contain listings of statutes department regulations and circular letters referenced in the compliance questionnaires and review standards checklists for certain property and casualty insurance products. Penalties for driving without insurance in new york. This is findlaws hosted version of new york consolidated laws insurance law.
For links to recent dfs regulatory activity please visit our regulatory and legislative activities page. Uninsuredunderinsured motorist coverage is required by law in the state of new york in the amount of 25000 per person or 50000 per accident for bodily injury. Coverage under these agreements is regulated under the new york state insurance law and must be underwritten by a licensed new york state insurer. The law regarding insurance in new york new york has some pretty specific requirements on liability insurance for automobiles.
If youve incurred vehicle damage as a result of the accident youre free to pursue a claim against the at fault driver for those costs. The minimum amount of liability coverage is. If you were involved in a car crash and sustained a personal injury with a driver who only had these minimum policy limits you may not receive adequate. Andrew cuomo signed legislation that alters new yorks auto insurance law and its a win win deal for everybody.
Known as a mandatory minimum drivers must purchase and maintain a certain level of car insurance from an insurance company in case of an accident or injury to another person or property. If you do not maintain the coverage the dmv can suspend your vehicle registration and your driver license. To register a vehicle in new york state you must have new york state issued automobile liability insurance coverage. Administrative and procedural provisions.
You may want to purchase this additional coverage if you do not own a car. Expand sections by using the arrow icons. Organization of the department of financial services.