Why to Get TLC Insurance Coverage in New York City
Who possibly needs TLC for driving passengers?
TLC Insurance is required for all taxi and TLC drivers as well as Transportation Network drivers, or rideshare drivers operating within the five boroughs of NYC: The Bronx, Brooklyn, Manhattan, Queens, and Staten Island. Furthermore, The New York City Taxi and Limousine Commission (TLC) require this insurance for any TLC or Livery plated vehicle.
TLC insurance(For-Hire Insurance) is a commercial auto insurance, specifically for the TLC drivers.
In order to get a TLC vehicle registered, and maintain an active TLC permit, TLC vehicle owners will need to obtain FH-1 form from their TLC Insurance Broker. The next step is to get a TLC license plate letter, that enables them to acquire a TLC license plate and register the vehicle with the DMV.
Read about insurance brokers in New York and learn about the right insurance coverage applicable to your case.
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Do You Really Need TLC Insurance?
The simplest question doesn’t need long research to answer it. It doesn’t matter what kind of For-Hire passenger transportation service you provide — you do need TLC Insurance in New York. The most critical involvements are:
- NYC laws necessitate that all holders of TLC permits must carry 100,000/300,000/10,000 Liability protection. That is mandatory for those who need to operate a for-hire vehicle (FHV) in NYC.
- As long as you begin working for Uber, Lyft or other TLC services in New York City, the personal coverage as such isn’t longer needed, and personal plates aren’t allowed. So you need to get TLC Insurance and TLC plates.
- It acts as a shield from your deeds toward other persons and their property, and it protects passengers as well. In its absence, you may have to incur out-of-pocket expenses that would cover the damages.
- Outside of NYC and in other states, ridesharing firms provide coverage when you’re picking up and transporting passengers, they also cover you when you’re not in between rides.
Who needs TLC insurance in NYC? Pretty much everyone who drives commercially:
- Uber and Lyft drivers,
- Black car drivers,
- Livery drivers,
- Green and yellow taxi drivers,
- Limousine drivers,
- Commuter van drivers,
- Paratransit service drivers.
What Does It Cover?
There are three components that make up the minimum TLC insurance in New York City:
- Liability Coverage. This covers both property damage and bodily injury liability coverage. This pays costs and claims when you, by accident or intentionally, cause damage to other people’s property or injure another human being on the road.
- Personal Injury Protection (PIP). It covers medical bills, lost wages, and rehabilitation costs after an accident.
- Uninsured Motorist Coverage. This pays for damage, medical expenses, and all other costs when the other driver, in an accident, is uninsured up to your policy limit.
NYC TLC Insurance Options for Black Car and Car Service
Mandatory Coverages (Liability)
| Coverage Type | Commercial Auto Liability | Personal Injury Protection (PIP) |
|---|---|---|
| Description | Required by NYC TLC; covers bodily injury and property damage to others. | Covers medical expenses and lost wages for you and passengers, regardless of fault. |
| NYC TLC Minimum Limits | $100,000 per person / $300,000 per accident (BI) $10,000 per accident (PD) |
$200,000 per person |
Optional Coverages (Full Coverage)
| Coverage Type | Collision Coverage | Comprehensive Coverage |
|---|---|---|
| Description | Pays for your vehicle’s damage in a collision, regardless of fault. | Covers non-collision incidents like theft, fire, vandalism, or natural disaster. |
The minimum described above covers other people and their property but doesn’t insure your own vehicle against damage. The New York City Taxi & Limousine Commission checks that each TLC licensed limos and cabs in the city have at least minimum required insurance.
Thinking about the right level of insurance to meet your needs can be difficult. That’s why speak to an insurance expert like A&Y Royal. They will help you determine the best coverage for your specific situation.
Prices of TLC Insurance in the New York City Area
If you’re an experienced TLC driver, over 25, and have a clean driving record, you’re in luck. Your insurance will likely cost less, typically between $3,500 and $5,000 per year to meet the minimum TLC insurance in NYC. But if you’re a new driver or have a history of claims, you might end up paying $10,000 annually.
Most insurance companies offer monthly payment price plans if you can’t pay the full amount upfront.
To receive an actual estimate, share your name, address, age, TLC license number, driving record, accident history, vehicle specifics, and information from your TLC base card with the broker.
New York City Taxi and Limousine Commission wants to ensure safety maintenance standards and financial responsibility for all for hire vehicle operating in the city. As per the outlined requirements all drivers operating vehicles for hire, such as yellow cabs, green cabs, black cars, livery vehicles, and rideshare services like Uber and Lyft shall have TLC insurance.
Contact us on 718-375-9000 and we will give you free consultation on getting TLC insurance for your vehicle.
Standard coverage requirements for the TLC insurance is as below: Bodily injury $100,000 per person/ $300,000 per accident
Yes, you can! You will need to have active TLC plates or need to apply for the new one. Contact us on 718-375-9000 for free consultation!
Drivers license and TLC license of the owner of the plates and driver that needs to be listed on the policy, proof of address for each, proof of vehicle ownership.
Why A&Y Royal Insurance Stands Out from the Crowd
A&Y Royal is your TLC insurance Brokerage that strives to get reasonable rates with quality coverage and world-class customer service. We’re proving that getting insured doesn’t have to be such a drag, and this can be done on a budget.
No confusing jargon, no hidden fees. Whether you drive for Uber, Lyft, or Juno, we have got you covered. Once you’ve completed the formalities, our managers send your documents right onto your phone or tablet.
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If you’re looking for TLC Insurance in NYC, consider filling the above form or calling us at 718-375-9000
