New York Insurance Requirements & Rates

New York requires minimum liability coverage of 25/50/10 (bodily injury per person / per accident / property damage). New York is a no-fault state, meaning your own insurance pays for your injuries regardless of who caused the accident. Uninsured motorist coverage is required. Personal injury protection (PIP) is also required.

New York homeowners face risks from hurricanes, flooding, nor'easters, winter storms. The flood risk level is high and earthquake risk is low. Standard deductibles apply. The average annual home insurance premium is $1,420.

New York requires all motorcycle riders to wear helmets. Lane splitting is not legal. Eye protection is required for all riders. The riding season is april–october.

Yes, workers' compensation insurance is required in New York. New York has approximately 2,300,000 small businesses, with top industries including Finance & Banking, Healthcare, Technology.

Yes, New York has expanded Medicaid. The state has its own state-based health insurance marketplace at https://nystateofhealth.ny.gov. The uninsured rate is 5.5%.

Yes, landlords in New York can require tenants to carry renters insurance as a condition of the lease. About 46% of New York residents are renters, with average monthly rent of $1,500.

With a median household income of $74,314, most New York families should consider 10-12x their annual income in life insurance coverage. Currently, 52% of New York households have life insurance.