Minimum Liability Or Comprehensive Auto Insurance in New York?
Reader’s Question:
I have the minimum liability insurance in Albany, New York and yesterday my vehicle was stolen, can I get something from my car insurance carrier?
Tony
Albany, NY
It is unfortunate that your vehicle was stolen but the minimum liability coverage that you have will not cover your stolen vehicle in Albany, New York. You need the physical damage of comprehensive coverage on your car to be covered by your insurance provider.
If your vehicle is stolen comprehensive coverage will also provide a certain amount per day for transportation expenses such as rental car, public transportation, depending on the what the terms on your car insurance policy. In general, this car insurance coverage is provided until the time the insurance carrier makes an offer to settle your car insurance claim.
Since you did not have comprehensive coverage on your vehicle there is no coverage on your stolen car and so your insurance carrier will not compensate you or be required to assist you with the vehicle that was stolen in any way.
Will Minimum Coverage Auto Insurance in New York Pay For Stolen Vehicle?
Reader’s Question:
I have minimum state coverage insurance on my vehicle in Manhattan, New York. The vehicle was stolen. Does the insurance carrier compensate for the stolen vehicle?
Jane
Manhattan, NY
No, with just the minimum state coverages in Manhattan New York your vehicle is not covered by your car insurance company in any way if it is stolen. State minimum coverages do not cover your car in anyway, you need physical damage coverages of comprehensive and collision on your vehicle for it to be covered by your insurance carrier.
To have a stolen vehicle covered by your auto insurance coverages you would need to have the comprehensive coverage on your car. According to the New York Insurance Department with comprehensive coverage, your insurance company pays you, regardless whose at fault, for damage to your vehicle from causes such as theft, fire, flood, glass breakage, windstorm, vandalism, hitting or being hit by an animal, or by falling or flying objects.
If your vehicle is stolen comprehensive coverage will also give a certain amount per day specified in your car insurance policy for transportation expenses such as rental car. This coverage is generally provided until the time the insurer makes an offer to settle your car insurance claim.
Since you did not have comprehensive cover on your car there is no coverage on your car to cover the stolen automobile and thus your insurance carrier will not compensate you or be required to help you with your stolen car in any way.
Is There a Time Limit To File a Car Insurance Claim in New York?
Reader’s Question:
What is the time limit to file a claim to car insurance after a collision in New York?
Lincoln
Babylon, NY
You should contact your specific insurance company’s claims department to determine additional details on the time limits there are to make car collision claims. As for the NY state laws, you can contact your state insurance regulator to get more information on any time limits you have to make a car insurance claim and also on what the laws are regarding time limits for the insurance carrier to respond to the claim.
In New York, if your vehicle is damaged or stolen and you have car comprehensive or collision insurance coverage, you have the right to a fair and prompt settlement from your insurance carrier, either for the actual cash value of the vehicle or the amount of the damages, whichever is lower. If your vehicle is stolen and subsequently recovered, your insurance company must pay for the damage done to the vehicle while it was missing, the cost of any reasonable storage charges, towing and substitute transportation expenses.
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