Insurance (also referred to as financial responsibility) is required on all vehicles operated or parked on roads.
You must carry evidence of insurance in your vehicle at all times and it must be provided when:
- Requested by law enforcement.
- You are renewing the vehicle registration.
- The vehicle is involved in a traffic collision.
Minimum Liability Insurance Requirements for Private Passenger, Commercial and Fleet Vehicles
The following are the minimum coverage requirements (per California Insurance Code Section §11580.1b):
Bodily injury/death to one person $15,000.
- Multiple injuries/deaths $30,000.
- Property damage $5,000.
Liability insurance that pays for bodily injury or property damage to a person other than the policyholder. Comprehensive or collision coverage does not meet vehicle finance requirements.
does not include any other commercial/community vehicle insurance requirements deemed necessary by federal, state or local agencies.
Minimum Auto Insurance Requirements Coverage
The minimum and maximum amounts of insurance that must be purchased to meet the financial requirements to register a vehicle and obtain license plates are:
- No-Fault (Personal Injury Protection) – Covers medical bills, damages and other reasonable expenses. and reasonable expenses such as home help and transportation to hospital, the cost of an injured driver or passenger, or an injured pedestrian in the vehicle.
- Liability – To prevent damage to other people and their property caused by your car or a car driven by you with the owner’s permission Damage.
- Uninsured Motorist Protection – Protects you, your family or your passengers from injury in a motorcycle hit-and-run accident.
Basic No-Fault auto insurance coverage includes:
- Necessary expenses and expenses related to medical emergencies and rehabilitation (subject to payment plan).
- 80% loss of earnings, up to $2,000 per month for three years from date of accident; covered by New York State Disability, Workers’ Compensation and Federal Statutory exceptions to Social Security disability benefits.
- Up to $25 per day, for one year from the date of the accident, to reimburse other reasonable and reasonable expenses incurred as a result of the car accident (such as housing assistance and transportation to and from the hospital).
- Death benefit of $2,000 ( In addition to the initial $50,000 no-fault limit), payable to the estate of a person who is entitled to a no-fault benefit and dies in a car accident.
6 Reasons why you need car insurance:
Each state’s laws set limits on what drivers can purchase. The limit is the most your insurance company will pay on a claim. You may want to increase access restrictions beyond your state’s requirements. Otherwise, you may be charged out-of-pocket costs if you hit another driver and their medical bills exceed your limit. Some states require you to purchase additional auto insurance, such as uninsured motorist coverage or personal injury coverage.
Car insurance offers financial protection
Car insurance offers financial protection
If you are involved in a car accident, you may be responsible for the costs associated with it. This may include fines, medical bills for the injured person, or lost wages due to being unable to work. Refunds can help cover these costs. If you don’t have a mortgage (or a high profit), you’ll have to pay this amount out of pocket.
Your lender or leasing agent may require auto insurance.
Your lender or leasing agent may require auto insurance
If you finance or lease a car, your lender may require you to carry collision and comprehensive coverage. Both types of insurance protect your money as long as your car is in the hands of the lender or on loan while you make payments. Comprehensive or collision coverage can pay for repairs and replacements if your vehicle is damaged in an accident.
if you have special coverage on your car policy, this service will help you pay off your car loan if the car is totaled or stolen and your loan exceeds the minimum value. Gap coverage is optional and available with collision and comprehensive coverage.
Car insurance can help protect you from the cost of repairs.
Even if you own your own car, you should have collision coverage and comprehensive information about your car insurance policy. While liability insurance can cover damage to another driver’s car, it’s also important to have coverage for your own vehicle. For example, what if your car breaks down in the snow? If your car is stolen or damaged for reasons other than a collision, such as a fall or fire, comprehensive
coverage can pay for repairs or replacements.
Or, suppose you hit a mailbox and your car’s front bumper is damaged. Collision coverage can pay for your car repairs if you hit another object or vehicle, regardless of the fault. Without comprehensive or collision coverage, you will have to use your own money to repair your car.
Auto insurance helps protect your passengers.
Medical payments coverage and personal injury protection may help pay for your medical bills if you’re injured in an accident. It also may help cover your passengers’ expenses due to the accident. This coverage may help pay for hospital visits, doctor bills and surgery.
Auto insurance helps you protect yourself.
Even though the law requires a credit check, many people have been fired without one. Uninsured motorist coverage can help pay your medical bills if you are hit by an uninsured motorist. Some states require this education;
Having the right car insurance can help you meet legal requirements. Car insurance protects your car, your wallet and your peace of mind.