Bill > S01249

This bill increases the minimum insurance coverage requirements for motor vehicles rented or leased in New York State by mandating a significantly higher combined single limit of insurance coverage. Specifically, rental and leased vehicles will now be required to have a combined single limit of at least $1,250,000 for bodily injury, death, or property damage in any one accident, compared to the previous lower limits. The bill also adds new provisions that require rental and leased vehicle owners to maintain continuous proof of financial security throughout the registration period, and makes the owner potentially personally liable for any judgments resulting from accidents involving the vehicle. Additionally, the bill requires insurance companies to provide an informational statement to policyholders about the legal and financial consequences of driving under the influence of alcohol or drugs. The new requirements will take effect one year after the bill becomes law and will apply to insurance policies issued or renewed on or after that date, giving businesses and insurers time to adjust to the new regulations.

Transportation and Infrastructure

https://www.nysenate.gov/legislation/bills/2025/S1249