Increase to For Hire Insurance Minimum and Maximum Liability

NYS DMV Insurance Information & Enforcement System (IIES)

Important Information

Amended February 18, 2022

 

Increases to For Hire Insurance Minimum and Maximum Liability

NYS Vehicle and Traffic Law Article 8, Section 370 was amended effective January 1, 2020. The specific changes resulted in increases to For Hire Insurance minimum and maximum liability amounts. In addition, Section 370 was further amended in April 2021 to address the minimum and maximum liability amounts as applicable specifically to Commuter Vans as defined in section 19-502 of the administrative code of the city of New York.  The complete amended details of 370.1 are provided below.

 

For damages for and incident to death or injuries to persons and injury to or destruction of property: For each motorcycle and for each motor vehicle engaged in the business of carrying or transporting passengers for hire, having a seating capacity of not more than seven passengers, a bond or insurance policy with a minimum liability of twenty-five thousand dollars and a maximum liability of fifty thousand dollars for bodily injury, and a minimum liability of fifty thousand dollars and a maximum liability of one hundred thousand dollars for death and a minimum liability of ten thousand dollars for injury to or destruction of property; for each motor vehicle engaged in the business of carrying or transporting passengers for hire, having a seating capacity of not less than eight passengers, a bond or insurance  policy with a combined single limit of at least one million five hundred thousand dollars for bodily injury  or death to one or more persons, and because of injury to or destruction of property in any one accident; provided, further that for commuter vans that are engaged in the business of carrying or transporting passengers for hire, having a seating capacity of not less than eight passengers, a bond or insurance policy with a combined single limit of at least five hundred  thousand dollars for bodily injury or death to one or more persons, and because of injury to or destruction of property in any one accident. For the purposes of this paragraph, the term "commuter van" shall have the same meaning as such term is defined in section 19-502 of the administrative code of the city of New York.