What is the primary reason for the New York financial responsibility law?

The primary reason for the New York financial responsibility law is to provide some form of compulsory insurance. This law mandates that drivers must carry a minimum amount of liability insurance to operate a vehicle legally. Its main goal is to ensure that individuals have the financial means to cover damages or injuries caused in the event of an accident. By requiring drivers to have insurance, the law aims to protect all parties involved in an accident, ensuring that victims can receive compensation for their losses, which in turn promotes financial responsibility among drivers.

This insurance requirement helps to reduce the risk of uninsured motorists on the road, providing a safety net for all road users. While other options may seem relevant, such as limiting insurance claims, enhancing public school funding, or reducing fraud, they do not align with the fundamental objective of the financial responsibility law, which is primarily concerned with ensuring that drivers have insurance coverage to protect against financial liability.