Bronx insurance prices are driving downward
The New York State Insurance department says it has been pushing the pedal down on insurers to drop their rates.
The state insurance department pointed out industry reports indicating accident insurance claims had significantly dropped in recent years. The department?s superintendent says his agency?s success in fighting insurance fraud benefits both the insurer and those providing insurance. The superintendent says insurance companies are paying out less in claims and therefore the public should pay less in rates.
Some residents say with today?s gas prices, Bronx drivers can use money saved to insure their cars, to fuel them.