Hochul reaches deals on NYS insurance reform that could save 10% on bills
Governor Kathy Hochul announced new car insurance reforms in New York that could reduce premiums by 10%. The changes aim to address fraudulent claims and excessive payouts, with the average New Yorker currently paying over $4,000 annually for car insurance. While the reforms have garnered support from various groups, they faced opposition from trial lawyers and may take up to two years for drivers to see the benefits reflected in their bills.
- ▪The reforms could save New Yorkers 10% on their car insurance bills.
- ▪New Yorkers currently pay an average of $4,000 a year for car insurance, which is $1,500 more than the national average.
- ▪The changes include stricter thresholds for serious injury claims and limits on payouts for uninsured or negligent drivers.
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Metro Hochul reaches deals on NYS insurance reform that could save 10% on bills By Vaughn Golden, Carl Campanile, Haley Brown and David Propper Published May 27, 2026, 6:49 p.m. ET See more of our coverage in your search results. Add The New York Post on Google Gov. Kathy Hochul said car insurance reforms baked into the state budget deal could save New Yorkers 10% on their bills – but it could be a while before the relief comes. New Yorkers pay on average more than $4,000 a year for car insurance, which is $1,500 more than the national average, according to the governor’s office. “So I believe that this is going to put real money back in people’s pockets,” she said Wednesday at an event in the Big Apple as she took a victory lap after finalizing a budget deal with top lawmakers.
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