Auto Insurance (Personal and Commercial)
New York compulsory coverages
Minimum liability limits are 25/50/10 - $25,000 per person, $50,000 per accident bodily injury, $10,000 property damage. No-fault (PIP) provides $50,000 per person for medical expenses, lost wages (80% of earnings up to $2,000 a month, capped at $25,000), and a death benefit; claims must be submitted within 30 days and the insurer has 30 days to pay or deny. Uninsured motorist coverage at 25/50 is mandatory, and supplementary uninsured/underinsured coverage must be offered up to the policy's liability limits. Physical damage coverages require a vehicle inspection.
New York's serious injury threshold limits tort claims for non-economic damages to death, dismemberment, significant disfigurement, fracture, loss of a fetus, permanent loss of use, permanent consequential or significant limitation, or 90 of the first 180 days of impairment.
Personal auto policy
Part A liability, Part B medical payments (replaced by PIP in New York), Part C uninsured motorists, Part D damage to your auto (collision and other than collision), Part E duties after an accident. 'Your covered auto' includes a newly acquired auto (14 days), a temporary substitute, and a trailer.
Commercial auto
Business auto forms use symbols 1 through 9 to designate covered autos (1 any auto, 2 owned autos only, 7 specifically described autos, 8 hired autos, 9 non-owned autos).
Traps
Applying split limits per claimant rather than per accident; assuming a rental car is covered worldwide; forgetting the 60-day cancellation rule (10 days for nonpayment, 20 days otherwise).
Worked example
With 25/50 limits and two claimants awarded $30,000 each, the per-person limit caps each at $25,000 and the $50,000 per-accident limit is exhausted.