NEW COALITION LAUNCHES TO FIGHT SOARING INSURANCE COSTS IN NEW YORK
Campaign to Launch Multimillion Dollar Ad Buy to Activate New Yorkers, Take on Special Interests
Citizens for Affordable Rates (CAR) Fights for Relief Amid New York’s Affordability Crisis
NEW YORK – Today, a diverse coalition of concerned citizens, advocates, and organizations launched Citizens for Affordable Rates (CAR) to address the pressing issue of rising insurance premiums in New York State. These costs, spanning auto, home, and health insurance, have become a growing burden for families and businesses alike, adding to an already severe affordability crisis in the state. The ripple effects go even further—skyrocketing insurance costs drive up the price of groceries, rent, and other everyday essentials.
As New Yorkers grapple with a rising cost of living, a recent Siena College poll shows that 43% of residents cite affordability as their top priority. Skyrocketing insurance premiums are compounding household financial strain, making it increasingly difficult for hardworking families to make ends meet. The CAR campaign will include grassroots mobilization of consumers, legislative and regulatory advocacy, and a multimillion-dollar ad buy of digital, television, and radio placements to push for reforms to reduce insurance costs for everyday New Yorkers, launching this month.
Background: The Affordability Crisis & Rising Insurance Costs in New York
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Skyrocketing Premiums: Auto insurance costs in New York are nearly 40% higher than the national average, with premiums exceeding $1,700 annually. Health and homeowners’ insurance follow similar trends.
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Impact on Housing Costs: Rising property insurance premiums contribute to increasing rents and mortgage payments, with insurance costs accounting for 10-15% of rent expenses in many parts of New York City.
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Higher Food and Retail Prices: Businesses offset rising commercial insurance premiums by increasing prices for consumers, creating a ripple effect of higher costs across essential goods and services.
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Impact on Low-Income Residents: Low-income families are disproportionately burdened, as rising premiums eat up a larger share of their budgets and exacerbate financial insecurity.
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Fraud and Abuse: Fraudulent claims and excessive litigation drive up premiums for everyone, with estimates suggesting that false claims — such as those stemming from staged car crashes — account for up to 10% of total insurance payouts in New York.
The CAR Coalition is uniting diverse voices to champion affordability and accountability in the insurance marketplace on behalf of New York’s consumers and small businesses:
“Haitian-American families are bearing the brunt of the affordability crisis, which is threatening the dreams and stability we’ve worked so hard to build. CAR’s comprehensive approach to tackling this head-on is a critical step toward economic justice and relief. We are united in demanding bold action to ensure every working family has a fair shot at prosperity in New York,” said Elsie Saint Louis, Chief Executive Officer/Executive Director, Haitian Americans United for Progress, Inc. (HAUP).
“For too long, working New Yorkers have been left out of conversations about fairness and affordability. Addressing the root causes of exorbitant insurance rates and consumer costs gives our communities a much-needed voice. It’s time to stand up to Albany special interests, and the forces of greed and abuse to ensure no family is priced out of the metro area anymore,” said Nada Khader, WESPAC Foundation Director.
“Immigrant communities are disproportionately burdened by out-of-control insurance premiums and other consumer costs. It’s forcing hardworking New Yorkers to make impossible choices to make ends meet. CAR’s commitment to fighting for affordability is a powerful step toward relief and empowerment for every community we serve,” said Toyin Omolola, CEO, DSI International Inc.
“Rising costs are strangling the finances of families and small business owners in the Bangladeshi-American community. We hear about this every day. CAR’s mission to tackle this affordability crisis from all sides gives us hope that New York will once again be a place where families can thrive and build a better future,” said Herb Regnier, Executive Director of Bangladeshi American Community Development and Youth Services (BACDYS).
“Skyrocketing consumer costs are crushing immigrant families and small businesses across New York, especially in our communities. And no one has fixed it. We are proud to support CAR’s campaign to bring fairness and affordability to a system that is stacked against us. It’s time to act boldly to help hardworking New Yorkers trying to build better lives for their families,” said Aasma Mehdi, COO at Council of Peoples Organization.
The coalition is committed to:
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Advocating for Fair and Equitable Rates: Ensuring that insurance rates reflect actual risk, not arbitrary factors.
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Promoting Transparency and Accountability: Pushing for greater transparency in insurance practices.
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Supporting Consumer Protection: Championing laws that safeguard the rights of New Yorker consumers and prevent predatory practices.
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Encouraging Innovation and Competition: Advocating for policies that foster innovation and competition in the insurance market, leading to lower costs and improved services.
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Legislative and Regulatory Action: Engaging with policymakers on the state and local levels to push for reforms that lower insurance costs and protect consumers.
About CAR
Citizens for Affordable Rates (CAR) is a coalition of citizens, advocates, and organizations dedicated to tackling the root causes of high insurance premiums in New York. Through advocacy, education, and policy reform, CAR is committed to building an affordable and dependable insurance system for all. To learn more, please visit: www.citizensforaffordablerates.org
