Liability requirements for New York Auto Insurance
In case an auto accident caused by you results in bodily injury to another person or persons and /or the accident caused by you results in property damage, then you will be required to pay the other party for the losses sustained. This is called liability coverage which includes the legal fees that you will have to pay in case of a law suit to defend yourself.
This liability coverage is paid to the person who has been injured by you which is the maximum amount, then there is the amount paid to the injured for the bodily injury /per claim, then there is the amount you have to pay for the damage of the property caused by you. This coverage is defined by three numbers, which is 100/300/100.the first number refers to $100, 000 that is the maximum amount paid for bodily injury per person per claim which is paid on your behalf. The second 300 points to the $300,000 that would be the maximum amount paid on your behalf for bodily injury per claim. The last number 100 means $100,000 which is the maximum amount paid for the property damages incurred. The New York Insurance requirements specify a basic coverage plan which you would require, but you can also opt for even higher limits based on your personal requirements.
Medical Coverage during any mishap
In case of personal injury where you require medical treatment, the Personal Injury Protection (PIP) coverage provides for the treatment and for the all the medical expenses incurred by you. This is an added protection which is stipulated by the New York state for your own benefit, where as all the aforementioned liability requirements were for the benefit of the other party involved in the said accident.
Insurance agents can provide the best suited insurance coverage with the cost suited for your convenience. There are many certified insurance agents who are specialized for personal protection coverage in New York City. .
Insurance coverage for your car in case of collision
In case damage is caused to your vehicle during the event of colliding with another car or any other vehicle, the insurance company pays you for the damages .Here the insurance subtracts a certain amount from your insurance and pays the rest of the amount. For example; if the damage caused to your car is $3000, then the insurance company deducts $500 from you and the rest of $500 is paid by the insurance company. This is called collision coverage. And the amount removed from you is called the deductible.
Comprehensive damage coverage: In case of theft, fire, vandalism or damage caused by natural calamities like flood, earthquake, volcanic eruption, and the comprehensive damage is covered by the insurance. In those times when you are left without a car the insurance company provides you with reimbursement for rental of a car. But the New York Auto Insurance code does not require you to have collision or comprehensive coverage.
Tips for New York Auto Insurance
Liability coverage pays other people for bodily injury and property damage, and is required in New York. Collision, comprehensive, and PIP covers you and is not required
Liability coverage pays for the bodily injury or/and property damage caused by you and is required whereas personal injury protection, comprehensive and collision covers you and are not required.
