Deep Dive: New York drivers see uptick in car insurance

While gas prices may have declined across New York in recent weeks, car insurance prices have gone up.

News 12 Staff

Apr 15, 2022, 10:44 AM

Updated 828 days ago

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While gas prices may have declined across New York in recent weeks, car insurance prices have gone up.
News 12's Kristie Reeter is taking a deep dive into the numbers to see how New York compares to other states when it comes to car insurance cost.
News 12 asked viewers in a poll if they have noticed an increase in their car insurance.
Most Long Island residents said they have, while Westchester residents were split between yes and no.
In Brooklyn and the Bronx, the majority said they did not see an increase.
Investopedia's Caleb Silver says there was a certain trend in auto insurance last year.
“Well, 2021 was a nice break for New York auto drivers. Car insurance actually fell a little over 3%. Nationwide, they were up 3%. That's a function of less commuting, less repair costs, so they did see a break last year,” Silver says.
Is that trend continuing into this year?
“We are going to see increases. We have already seen increases nationwide for auto insurance rates, up about 3%. That's about what you are seeing in the New York area as well. Some of the biggest insurers have been raising their rates anecdotally, so you can expect higher rates through the year for 2022 in New York."


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