By law, most states require drivers to carry car insurance, and New York is one of them. Not only does state law require you to have coverage, but it also institutes a minimum coverage limit that your policy must contain. Still, if you only carry the minimum coverage, then you will only get the minimum benefits. Therefore, it is always advisable that you carry more protection.
New York’s Minimum Coverage Limits
New York requires the types of benefits: No-fault bodily injury coverage, at-fault liability insurance and uninsured motorist coverage. The minimum required limits are:
- $50,000 No-Fault Coverage (sometimes called personal injury protection or PIP coverage)
- $25,000 Bodily Injury Liability Coverage per person
- $50,000 Bodily Injury Liability Coverage per accident
- $10,000 Property Damage Liability Coverage
- $25,000 Uninsured Motorist Bodily Injury Coverage per person
- $50,000 Uninsured Motorist Bodily Injury Coverage per accident
When an accident occurs, drivers must first file against their no-fault coverage for their injury costs, regardless of who was at fault for the accident. Only after they exceed the limits of their coverage might they qualify to file against the other driver’s bodily injury liability insurance. In all accidents, the property damage liability coverage of the party at fault will pay for the property losses of others.
You are required to carry uninsured motorist coverage because other drivers might not carry liability insurance to compensate you for accident losses. With this coverage, you'll be able to file against your own policy for your injury costs when you cannot file against someone else’s liability coverage.
Increasing Your Coverage is a Good Idea
Even though the minimum coverage required of you might be worth several thousand dollars, it still might not be a guarantee that you will have ample protection against all the costs that might arise. Plus, your PIP, liability and uninsured motorist benefits will not cover your own physical damage for the accident in any circumstances.
Therefore, we highly advise all of our clients to increase their coverage limits beyond the coverage you are required to carry. Not only should you increase the coverage that you must carry, but you should also add other benefits into your policy.
Recommended additional benefits include collision insurance, comprehensive damage coverage, roadside assistance or rental car reimbursements. When an accident or other vehicle damage occurs, these benefits can help you repair the car and receive the assistance you need in the meantime.
If you are worried about the cost of adding coverage into your auto policy, then you can rest assured that our agents have your best interest at heart. We can compare numerous policies that will offer full benefits, and help you decide which one is in your best interest, both for coverage and cost.
Also Read: Ramifications of a DUI on your Car Insurance
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