New York Auto Insurance

New York City is one of the few places in the world where it is possible - and indeed, many people do - to go from cradle to grave without ever needing to drive a car of your own. According to statistics, there are more than 500,000 New York citizens over the age of 50 who have never had their driver's license and probably never will. This is made possible, of course, by New York's superb public transportation system that is the envy of many other cities in the country.

For those who do find reason and a need to drive, however, whether it is for work (as a shuttle, bus, or cab driver), or to work, just because you can, or if you happen to live just outside the city and want to make your own commute to and from your job, an auto insurance policy is a must not only according to state law but also according to simple common sense. While New York's public transit system is the stuff of legend, so is New York city traffic - and not in a good way. A New York insurance policy can take the edge off of the risk of driving in the city.

New York Auto Insurance Requirements

Whether you live in New York or are a visitor to the state, you are required to be able to show proof of financial responsibility by carrying a valid liability auto insurance policy. Unlike many other states which gives its citizens options in showing financial responsibility such as by posting a bond, in New York, the only way to remain legal is to purchase and maintain a policy from a licensed insurance company. New York insurance laws require that you maintain coverage on your vehicle as long as it is registered whether the vehicle is actually being driven or not. In New York you are required to carry:

• $25,000/$50,000 - in injury liability protection to pay for the medical expenses of those you are involved in an accident with. The first number is the maximum that will be paid out for the expenses of any one person you are in an accident with while the second provides the maximum coverage for injuries to multiple persons.
• $50,000/$100,000 - in death benefit if you are involved in an accident that causes the death of another person. The first number is for the death responsibility of a single person, while the second will pay for two or more persons.
• $10,000 - for property damage that you cause in an accident where you are found to be at fault.

Note that these insurance levels are minimums required to drive in the state, and that the amounts may not be sufficient to cover all of the injury or damage that you cause in an accident. If your insurance coverage is not sufficient, you may be held personally financially responsible for any excess.