Did rates in New York increase in 2016?

I noticed that my rate went up at my renewal in December and was told by my insurance agent that rates increased in October of 2016 in New York. Is this true? What can I do about it?

Jan 3, 2017 Jamaica, NY

Neil Richardson

Jan 3, 2017

Our State of Insurance report shows that, overall, rates very slightly decreased in premium in 2016 for New York. That being said, each insurance company petitions the state for rate increases so it's possible that your specific company started charging higher rates, but that doesn't mean that rates across the board are higher. Whether you're happy with your rate or you saw an increase, I always recommend shopping around every 6 months to ensure you're getting the best rate for your specific situation. You may find that you're still getting the best deal available, but you won't know for sure unless you look.

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