Every driver in New York must carry at least the minimum requirements. Minimum insurance requirements help to ensure that every driver on the road is covered in the case of an accident. In addition, minimum insurance laws help to reduce the number of lawsuits associated with car accidents in the state of New York. The minimum requirements for individual policies are as follows:
- $25,000/$50,000 Bodily Injury Coverage per person
- $50,000/$100,000 Death Coverage
- $10,000 Property Damage per accident
Car insurance is designed to assist with the costs of an accident and protect the insured’s assets in case of a lawsuit. Therefore, for many drivers, the minimum insurance requirements are not enough. Drivers who own their home, other properties, or have sizable cash assets should increase their insurance coverage accordingly. Furthermore, drivers can add coverage for their own medical payments, something that is not covered under a basic state limit insurance policy. When obtaining quotes for insurance, it is important for drivers to discuss their assets with their insurance agent to ensure they purchase enough coverage.