MAJOR FLEET-BASED CORPORATIONS URGE ALBANY TO PASS COST-SAVING AUTO INSURANCE REFORMS IN STATE BUDGET

Signers Include New York State Beer Wholesalers Association, Con Edison, Verizon, Hampton Jitney, Metropolitan Taxicab Board of Trade, Uber, Lyft, UPS, Coach USA, Trucking Association of New York, and DoorDash

NEW YORK – A broad coalition of major corporations and industry groups operating large vehicle fleets across New York State is urging legislative leaders, including Majority Leader Andrea Stewart-Cousins and Speaker Carl Heastie, to support Governor Kathy Hochul’s proposed reforms to lower auto insurance costs for businesses and consumers.

The coalition includes the New York State Beer Wholesalers Association, Con Edison, Verizon, Hampton Jitney, Metropolitan Taxicab Board of Trade, Uber, Lyft, UPS, Coach USA, Trucking Association of New York, and DoorDash – companies whose operations depend on extensive fleets of vehicles to deliver goods, provide essential services, and transport millions of New Yorkers every day.

In a letter to state leaders, the companies wrote, “we write on behalf of corporations across New York State whose workforces rely on vehicle fleets to deliver services, move goods, provide millions of New Yorkers transportation and keep the economy running.”

They emphasized that the current system is increasing costs across the board, noting that “the current system significantly increases the cost of doing business in New York,” and that “those costs are ultimately passed along to all New Yorkers through higher prices, fares, and reduced investment.”

New York drivers pay some of the highest auto insurance rates in the nation – nearly double the national average. Full coverage costs $4,031 annually in New York compared to $2,679 nationwide, while minimum coverage averages $1,729 versus $808 nationally. According to the Citizens Budget Commission, the Governor’s proposed reforms could save consumers up to $200 per insurance policy. The Metropolitan Transportation Authority has also estimated it could save approximately $50 million annually if the reforms are enacted. 

The fleet companies also warned that “workforces that rely on vehicles are frequent targets for fraudulent claims, and companies are often the focus of litigation abuse,” adding that these challenges “drive up costs, divert resources away from job creation and service improvements, and make it more expensive to do business in New York.”

Calling for action, the group urged lawmakers to enact reforms in the final budget, stating that the Governor’s plan “will help curb fraud, reduce excessive litigation costs, and create a more stable and predictable environment,” ultimately lowering costs for businesses and consumers alike.

A copy of the letter is available here.