Because of the fact that in every state in United States there are different set of car insurance coverage and minimum amount of coverage required, as a motorist it is best that you should know what coverages your state requires. And for motorists in New York, here are the coverages and minimum set by law.
The first car insurance coverage that should be included in the car insurance policy of is the No-Fault (Personal Injury Protection) Coverage. The No-Fault coverage is designed to insure a policy holder and pay for the medical expenses and lost earnings for a driver/s or passenger/s injured in, or a pedestrian injured by, the policy holder’s or motorist’s car.
The No-Fault or Personal Injury Protection Coverage will pay promptly for economic losses, such as medical and/or health expenses, lost earnings, and other reasonable and necessary expenses related to injuries sustained by the policy holder and all passengers injured in his/her car as well as any pedestrians injured by his/her car. It is to restore the injured people involved in the accident to their usual health and productivity as quickly as possible.
Minimum amount or limits included in No-Fault Coverage are the following
- Reasonable and necessary accident related medical and rehabilitation expenses (in agreement with recognized fee schedules);
- 80 percent of lost earnings from work, up to a maximum payment of $2,000 per month for up to three years from the date of the accident;
- Up to $25 a day, for up to a year from the date of the accident, to reimburse other reasonable and necessary expenses, (e.g., transportation expenses to/from medical treatment, and household help) resulting from the auto accident;
- And a $2,000 death benefit (in addition to the $50,000 basic No-Fault limit), payable to the estate of a person eligible for No-Fault benefits but killed in a vehicular accident. Next car insurance coverage required in New York is the Liability Coverage, which is designed to pay for medical expenses and property damage that incurred by the other party if in case the policy holders is found at fault to the accident. And for the minimum amounts or limits included in Liability Coverage are the following:
- $25,000 for bodily injury that not resulted in death, or $50,000 for any injury resulting in death, sustained by any one person in any one accident;
- $50,000 for bodily injury that not resulted in death, sustained by two or more persons in any one accident, or $100,000 for any injuries resulting in death sustained by two or more persons in any one accident that subjected to the above per person limits. Since the minimum limit of coverage required by law for property damage liability protection, for damage to another party’s car or property, is $10,000 per accident.
And the last car insurance coverage required in New York is the Uninsured Motorist Coverage, which is designed to insure a policy holder, and all his/her passenger in case they got involved in an accident, like hit and run, and the other driver who is at fault is uninsured. Uninsured Motorist Coverage will pay for the medical expenses of all people inside the policy holder car.