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Pro-Consumer NYS Motor Vehicle Insurance Legislation

June 22, 2012

Today, New York State’s Legislature passed an important pro-consumer amendment to our state’s Insurance Law that will protect policyholders and their loved ones against injuries caused by uninsured/underinsured negligent drivers. Currently, most NY drivers are unaware that they have the option to purchase increased SUM coverage at an affordable price. Today’s SUM bill would protect motorists by requiring that a driver’s SUM insurance limit matches his or her liability coverage amount, unless the driver chooses to decline additional coverage after being informed of the benefits and minimal costs of the added protection. The bill preserves consumer choice, protects drivers, and will save taxpayers money as fewer accident victims are forced to rely on Medicaid and other public benefits after accidents involving underinsured or uninsured drivers. The bill now heads to Governor Cuomo’s desk for, hopefully, his signing.

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