Personal
Personal insurance in New York
Personal insurance covers what you own and what you could be held liable for: your car, your home or apartment, and your personal assets. In New York every registered vehicle needs liability, no-fault and uninsured motorist coverage. Homeowners insurance is not required by law but is required by every mortgage lender.
Who this is for
- Drivers registering a vehicle in New York
- Homeowners with a mortgage, who will be required to carry coverage
- Renters with more than a few thousand dollars of belongings
- Anyone with savings or property worth more than their liability limits
Who it is not for
- Vehicles registered outside New York, which follow their home-state rules
- Businesses using a vehicle commercially, which need a commercial auto policy
- Landlords renting out property, who need a dwelling fire or landlord policy
What it covers and what it does not
| Covered | Not covered |
|---|---|
| Injury and property damage you cause to others | Intentional damage |
| Your own medical costs and lost wages after a crash, through no-fault | Wear and tear, rust and mechanical breakdown |
| Damage to your home from fire, wind, theft and burst pipes | Flood, which requires a separate policy |
| Your belongings, including away from home | Earth movement and earthquake, unless endorsed |
| Liability if someone is injured on your property | Business activity run out of the home, unless endorsed |
Every policy differs. This table describes what these policies generally do, not the terms of any specific contract.
New York requirements
- Minimum auto liability is 25/50/10: $25,000 per person and $50,000 per accident for bodily injury, $10,000 for property damage. Higher limits of $50,000 and $100,000 apply if an accident causes death.
- New York is a no-fault state. Every policy must carry at least $50,000 in personal injury protection, which pays medical costs and a portion of lost wages regardless of who caused the crash.
- Uninsured motorist bodily injury coverage is mandatory at 25/50.
- These minimums have not changed since 1995. Assembly Bill A5053 has been introduced to raise them and has not passed as of this writing.
- Flood is excluded from every standard homeowners policy. Much of Staten Island’s East Shore and South Shore sits in a FEMA-mapped flood zone, so flood is a separate purchase.
What it costs
Full-coverage auto in the five boroughs commonly runs several times the national average, and homeowners premiums on the coast run well above inland New York. We will not quote a number without your details, because any number we gave you would be wrong.
What moves the number
- Where the vehicle is garaged, down to the ZIP code
- Driving record and how long you have been licensed
- Coverage limits and deductible
- For homes: age of roof, distance to the coast, prior claims and construction type
- Whether auto and home are bundled with the same carrier
Common questions
Is the state minimum enough coverage?
Rarely. The average auto injury claim in New York runs close to the entire $50,000 per-accident minimum, which means a single serious crash can leave you personally responsible for the balance. Most people with any savings or home equity should be looking well above the floor.
Does my homeowners policy cover flood?
No. Flood is excluded from every standard homeowners policy sold in the United States. It is a separate policy, written through the National Flood Insurance Program or a private carrier. If you are on Staten Island’s shoreline, this matters.
Can I keep my out-of-state policy after moving to New York?
Not once the vehicle is registered here. New York requires coverage from an insurer authorized in New York, and the DMV is notified when coverage starts and ends. A gap can cost you your registration.