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New York is about to do something EVIL. To reduce car insurance premiums, Governor Katy Hochul wants to cap compensation to crash victims
(nyc.streetsblog.org)
You want to bring down car insurance premiums? I'll tell you how to do it.
🔵 Allow insurance companies to use speed camera data.
🔵 Ban SUVs. Ban Luxury cars. They are a lot more expensive to repair. That's it. Problem fixed.
The problem is these stupid carbrain voters 🤪 don't want any of that that.
🔴 If you start banning SUVs and luxury cars, they will whine about communism
🔴 If you allow insurance companies to use speed camera data to overcharge speeding drivers, they will whine about oppression.
There is no magic solution to this problem.
Voters want to buy huge cars, they want to speed, and they want cheap insurance premiums. At the same time. Well that's just not possible.
So now, New York will screw car crash victims.
Want to reduce premiums? Invest in transit, reduce the amount of people driving.
That may actually do the opposite. Insurance functions by spreading the risk across all clients. If there are fewer people paying premiums, they raise rates to compensate.
Or if there's more pedestrians and nothing else changes then potentially riskier to drive