Prices for auto insurance begins to drop
Pressure of competition and market regulators of the state are automobile insurance rates in New York, as consumers expect to pay Germany are a little more for protection of its cars this year.
Over the past week, six major auto insurers have announced they are cutting their rates in New York for at least 5 percent, last week. Several others have also reduced rates, without fanfare.
The shares of GEICO Corp., MetLife Auto & Home, Progressive Corp., Nationwide Insurance, Amica Mutual Insurance Co., St. Paul Travelers Corp. consumers save at least $ 211 million of premiums, say officials of State. More than 2.1 million New Yorkers are benefiting.
The insurance agents are delighted. “It is many years since some of the major suppliers have a rate decrease, and it looked is still considered as positive by consumers,” said Kathy Smith bed, personal lines manager at Lawley Insurance Group of Companies. “It was certainly necessary, and I hope others will follow soon.”
In fact, the regulatory authorities further delay.
“There is more good news came from New York ratepayers self-insurance,” said New York Acting Superintendent of Insurance Howard Mills. “We will continue to press very, very difficult to win, these declines.
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