NY A09251

Allows insurers to provide actuarially appropriate premium reductions for non-commercial private passenger automobile insurance (bodily injury liability, property damage liability, personal injury protection, medical payments, and collision coverage) for vehicles equipped with automotive safety monitoring devices.

Defines "automotive safety monitoring device" as a tracking device, GPS receiver, or event data recorder that monitors vehicle speed, acceleration, braking patterns, distance, direction, passenger count, seatbelt usage, and location when operated by a minor driver under age 22.

Permits devices to be permanently or temporarily installed, including removable chips that interface with onboard diagnostic systems and the manufacturer's event data recorder.

Directs the superintendent of financial services, in consultation with the commissioner of motor vehicles, to establish rules and regulations for approval, utilization, and installation standards for these devices.

Takes effect January 1 following enactment and applies to all policies issued, renewed, modified, altered, or amended on or after that date.