New York State leaders are trying to lower your car insurance.
New Yorkers pay more in car insurance than most Americans, and New York Gov. Kathy Hochul is pledging to try to fix that.
Gov. Hochul Proposes To Lower Car Insurance Rates In New York
Recently, I went to renew my car insurance and couldn’t believe how much it went up! So I’m happy to hear that Gov. Hochul is unveiling her proposals to bring down car insurance rates in New York.
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According to Hochul’s office, car insurance rates in New York are among the highest in the nation, costing drivers an average of over $4,000 a year.
That’s $1,500 more than the national average, Hochul says.
What’s Driving Up Car Insurance Costs In New York?
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Experts believe that insurance fraud, including staged accidents by “sophisticated actors,” plus legal loopholes and “jackpot” payouts for phony pain and suffering claims, are driving up the costs.
The Governor says she wants to put more money in New Yorkers’ pockets, so she plans to crack down on insurance fraud, which she says has increased by 58 percent in the past three years.
What Hochul Wants To Do
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Hochul’s proposals include going after health care providers who provide phony diagnoses and working to give insurance companies more time to identify fraudulent claims. Under current law, they’ve got just 30 days.
“These common-sense proposals will not only increase auto insurance transparency for New Yorkers, but they will also put money back into people’s pockets, especially during a time when the cost of living is just too high,” Hochul stated.
Update: These Are Now The Top 10 Most Stolen Cars In New York
Update: These Are Now The Top 10 Most Stolen Cars In New York
The NICB reports vehicle theft rates continue to increase. These are the most common vehicles that are getting stolen.
The 15 Cars Or Trucks That Make New Yorkers The Most Angry
The 15 Cars Or Trucks That Make New Yorkers The Most Angry
Nearly 300 Cars Stolen Recovered In New York State
Nearly 300 Cars Stolen Recovered In New York State
In the past year, the New York State DMV found nearly 300 stolen cars. See where in the state cars are being stolen the most.
Based in New York, Stephen Freeman is a Senior Editor at Trending Insurance News. Previously he has worked for Forbes and The Huffington Post. Steven is a graduate of Risk Management at the University of New York.