The good news is our car insurance 'only' 3rd highest
BY Kenneth Lovett
DAILY NEWS STAFF WRITER
Tuesday, November 11th 2008, 9:26 PM
Franklin/AP
Traffic backs up on the East River Drive.
ALBANY - After years of having the second-highest auto insurance rates in the country, New York has dipped to No. 3, a new report shows.
The average New York premium in 2006 slipped to $1,213, a $50 - or 4% - drop from 2005, the National Association of Insurance Commissioners reported.
At $1,285 a year, New Jersey in 2006 - the latest numbers available - still had the highest average premiums in the country.
Louisiana, at $1,255 a year, jumped ahead of New York into the No. 2 spot.
New Yorkers still pay 30% above the $937 national average premium, though the state's 4% drop surpassed the average decrease in the nation of 1.3%.
Iowa had the lowest premiums in the country at $644.
State Insurance Department Superintendent Eric Dinallo credited New York's gains to enhanced state and industry anti-fraud measures.
Russell Haven of the New York Public Interest Research Group said "being in the top 10 ... is not a badge of honor."
An industry spokesman said "auto insurance costs are not straining people's budgets."
BY Kenneth Lovett
DAILY NEWS STAFF WRITER
Tuesday, November 11th 2008, 9:26 PM
Franklin/AP
Traffic backs up on the East River Drive.
ALBANY - After years of having the second-highest auto insurance rates in the country, New York has dipped to No. 3, a new report shows.
The average New York premium in 2006 slipped to $1,213, a $50 - or 4% - drop from 2005, the National Association of Insurance Commissioners reported.
At $1,285 a year, New Jersey in 2006 - the latest numbers available - still had the highest average premiums in the country.
Louisiana, at $1,255 a year, jumped ahead of New York into the No. 2 spot.
New Yorkers still pay 30% above the $937 national average premium, though the state's 4% drop surpassed the average decrease in the nation of 1.3%.
Iowa had the lowest premiums in the country at $644.
State Insurance Department Superintendent Eric Dinallo credited New York's gains to enhanced state and industry anti-fraud measures.
Russell Haven of the New York Public Interest Research Group said "being in the top 10 ... is not a badge of honor."
An industry spokesman said "auto insurance costs are not straining people's budgets."
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