Liability Will Pay For Damages Suffered
There are loopholes in every system and the no fault system is no exception. In the event that an injury is severe enough and medical bills excessive enough an accident victim may seek recompense from the driver who caused the accident. This loophole has led to the requirement that all NY drivers purchase a liability policy.
Liability will pay for damages suffered by the vehicle and person of the victim of an accident, and in New York provides minimum benefits to the tune of twenty five thousand dollars for medical expenses accumulated by a single driver, fifty thousand dollars for the combined medical expenses of all of the occupants of the vehicle and ten thousand dollars for repairs to any property that may have been damaged in the accident, including the victim’s vehicle.
In addition to liability and PIP insurance NY also requires its drivers to carry uninsured/underinsured motorist insurance. This will pay for damages suffered by the vehicle or person of the insured in the event that they are struck by a vehicle belonging to a person who either does not possess insurance or whose insurance policy does not extend to cover the quantity of damages inflicted. Uninsured/underinsured motorist insurance also provides coverage for those drivers who find themselves the victims of a hit and run.