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Drivers in New York are required to have at least $25,000 in uninsured motorist insurance per person (up to $50,000 per accident). Uninsured motorist insurance covers expenses for the policyholder and their passengers after an accident if the other driver doesn’t have insurance. Uninsured motorist insurance can also apply to hit-and-run accidents.
Types of Uninsured Motorist Coverage in New York
Uninsured motorist bodily injury (UMBI) coverage pays medical bills for the policyholder and their passengers after an accident with an uninsured motorist. UMBI is required in New York.
In some states, drivers can purchase uninsured motorist property damage (UMPD) coverage, which pays to repair or replace the policyholder’s vehicle, but New York does not offer it. Instead of UMPD, drivers in New York can use collision insurance, which covers vehicle repairs after an accident.
How Uninsured Motorist Coverage Works in New York
Normally, a New York driver can collect damages from the at-fault driver’s liability insurance after an accident. However, if the other driver is uninsured, getting compensation can be time-consuming or nearly impossible. That’s where uninsured motorist coverage can help. Instead of having to file a lawsuit, you can file a claim with your own insurance company in order to pay your bills and get the repairs or treatment you need without waiting for the courts.
Even though car insurance is required in New York, an average of 4% of drivers in the state don’t have car insurance. Car accidents in New York can be extremely expensive, too. For example, fatal accidents in New York have a total cost of $1.44 billion each year. As a result, uninsured motorist insurance is a smart investment for New York drivers.
Key Facts About Uninsured Motorist Coverage in New York
- Uninsured Motorist Bodily Injury Coverage: $25,000 per person and up to $50,000 per accident
- Uninsured Drivers on the Road: 4%
- Total Crashes per Year: more than 300,000
- Annual Cost of Fatal Accidents: $1.44 billion
To learn more, check out WalletHub’s guide to uninsured motorist coverage.
People also ask
Do I need uninsured motorist coverage if I have collision and comprehensive?
Yes, you need uninsured motorist coverage, even if you have collision and comprehensive. Collision insurance will pay to repair your vehicle if you’re hit by an uninsured driver, but it won’t pay for any of your medical expenses, and comprehensive insurance won’t cover your costs at all after a collision. Comprehensive insurance only pays for repairs if your car is damaged by something other than a collision, such as vandalism or a natural disaster. And you would...
read full answer by WalletHub, Financial CompanyWhat is the cost of uninsured motorist coverage?
Uninsured motorist coverage costs around $50-$75 annually for bodily injury and property damage coverage. Uninsured motorist coverage (UM) protects the policyholder by paying for injuries or damage resulting from a car accident caused by a driver who doesn’t have enough insurance.
Like any type of car insurance, uninsured motorist premiums vary based on the policyholder’s risk factors. How much coverage you purchase will also affect the cost of UM. Similarly, uninsured motorist premiums are...
read full answer by WalletHub, Financial CompanyShould I reject uninsured motorist coverage?
You should not reject uninsured motorist coverage unless you have collision insurance and enough medical coverage in the event of an accident caused by an uninsured driver. Uninsured motorist coverage is optional in states such as California, Florida, and Texas. In 21 other states, including New York and Illinois, uninsured motorist coverage is required, so drivers cannot reject it.
Uninsured motorist (UM) coverage is a smart investment even if it’s not mandatory in your state....
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