New York Auto Coverage Requirements
This chapter covers the coverage rules a New York producer must know to place personal auto correctly: the compulsory liability limits and New York's no-fault system.
Compulsory Liability Limits
New York's financial-responsibility law requires every registered vehicle to carry liability insurance at the state minimum limits. Per the New York DMV, the minimum bodily-injury limits are $25,000 per person and $50,000 per accident (rising to $50,000/$100,000 where a death results), plus $10,000 property-damage per accident. Because these figures can change, verify the current minimums with the New York DMV or DFS.
No-Fault (Personal Injury Protection)
New York is a no-fault state. Every auto policy must include basic no-fault, or Personal Injury Protection (PIP), coverage that pays an injured insured's economic losses, such as medical expenses and lost earnings, regardless of who caused the crash. Because first-party benefits apply, the right to sue the at-fault driver for pain and suffering is limited unless the injury meets New York's statutory 'serious injury' threshold. Confirm the current basic no-fault benefit amount and threshold with the New York DFS.