A battle over how to lower sky-high car insurance costs is stalling New York’s budget talks, according to WETM, with lawmakers split on competing plans. Drivers currently pay about $4,000 a year on average.
Gov. Kathy Hochul wants to cut costs by cracking down on fraud and limiting lawsuit payouts. But some lawmakers oppose that approach, arguing it could hurt crash victims.
An alternative proposal would require state approval for rate hikes and ban insurers from using factors like credit scores or ZIP codes. The disagreement remains one of the key issues delaying the state budget.
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