What is...

New York State Law requires this insurance. The minimum requirement is $50,000 to pay for medical expenses, loss of income, and other miscellaneous expenses regardless of fault. This coverage provides the following benefits.

  • Medical expenses - covers your various medical expenses
  • Loss of income - a maximum of $2,000 a month or 80% of your current monthly income (whichever is less)
  • Other expenses - $25 a day for reasonable expenses
  • Death benefit - $2,000
In a recent ruling by New York State, maximum loss of income received from no-fault was increased from $1,000 to $2,000 a month for 36 months. However, with a $50,000 limit, coverage may be used well before the 36 months. This is where OBEL comes in to help you out. This coverage provides an extra amount on top of the no-fault limit.
Required by law, bodily injury protects you if you are responsible for an accident in which someone is injured or killed. The minimum requirement is $25,000/$50,000, which means that the insurance company will only pay up to $25,000 per person injured and up to $50,000 per accident. So if there is more than one person injured, the most you are covered for is $50,000.
Required by law, property damage covers the damage your vehicle causes to someone else's property, such as your car running into someone's house or car. The minimum requirement is $10,000, which means that the insurance company will only pay up to $10,000 for damage your vehicle does to someone else's property.
Uninsured motorist coverage pays for injuries sustained by you and your passengers caused by an uninsured motorist. Underinsured motorist coverage pays when you or your passengers are injured as a result of negligence by someone with insufficient liability insurance to cover your losses. In New York State, you are required to carry at least statutory uninsured motorist with limits of $25,000 per person and $50,000 per accident for those accidents that occur WITHIN New York State. If you ever travel out of state, you should consider supplementary uninsured motorist coverage. This provides the same limits as statutory uninsured motorist, but it extends coverage to accidents that occur outside of New York State.
Uninsured motorist coverage pays for injuries sustained by you and your passengers caused by an uninsured motorist. Underinsured motorist coverage pays when you or your passengers are injured as a result of negligence by someone with insufficient liability insurance to cover your losses. In New York State, you are required to carry at least statutory uninsured motorist with limits of $25,000 per person and $50,000 per accident for those accidents that occur WITHIN New York State. If you ever travel out of state, you should consider supplementary uninsured motorist coverage. This provides the same limits as statutory uninsured motorist, but it extends coverage to accidents that occur outside of New York State.
Medical payments insurance is coverage that reimburses you and your passengers (whether or not they are members of your family) for medical or funeral expenses stemming from an accident, regardless of who was responsible for the accident.
Collision coverage reimburses you for damage to your own car resulting from impact with another car or an object, such as a house. This coverage is usually written with a $250 deductible, but may be higher or lower depending on your specific needs.
This coverage reimburses you for damage to your auto not caused by a collision. Such losses include theft, hail, vandalism, or hitting an animal.

FAQ

What is insurance?
How much insurance must I carry?
Can my insurance company raise my premium due to an accident or traffic ticket?
Why are auto insurance rates higher for younger drivers?
Is my parents' insurance company allowed to automatically include me on their policy?
What is a "deductible"?