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Introduction to PIP insurance requirements in NYC
1:18:16
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38 sec
Council Member Brooks-Powers introduces the topic of Personal Injury Protection (PIP) insurance for TLC vehicles in New York City. She explains that NYC requires $200,000 of PIP coverage, which is four times higher than the $50,000 required by New York State.
- PIP insurance covers medical expenses and lost wages for drivers and passengers injured in traffic collisions, regardless of fault.
- The council member questions why the city has set higher requirements than the state.
Selvena N. Brooks-Powers
1:18:16
Thank you.
1:18:18
On insurance and liability coverage intro $10.50, personal injury protection insurance, also known as no fault insurance, is designed to cover medical expenses and lost wages for drivers and passengers injured in traffic collisions regardless of fault.
1:18:35
New York City currently requires TLC vehicles to purchase $200,000 of PIP insurance coverage four times greater than the $50,000 amount required by New York State.
1:18:47
Why has the city set the PIP insurance coverage requirements for taxis and for hire vehicles higher than the state requirement?