PUBLIC TESTIMONY
Testimony by Israel Acevedo, Owner/Operator and For Hire Vehicle Driver on Insurance Rates for For-Hire Vehicles
2:33:02
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76 sec
Israel Acevedo, an owner/operator of a for-hire vehicle, testifies in support of a local law to limit liability coverage requirements for TLC-licensed vehicles. He describes the increasing insurance rates he has faced over the years despite having clean TLC and DMV licenses.
- Acevedo reports his insurance rates have increased from $301 in 2021-2022 to a projected $410 in 2025
- He argues that for-hire vehicle drivers are the safest in New York City and that high insurance rates are financially burdening thousands of drivers
- Acevedo mentions contacting American Transit about the rate increases but received no response
Israel Acevedo
2:33:02
Okay.
2:33:02
Good more good morning, Chair Brooks Powers and the committee on transportation and infrastructure.
2:33:07
I have been an owner operator driving in this driving the same for hire vehicle for the last eight years and my TLC and DMV license are both clean.
2:33:15
In 2021 and 2022 I was paying $3.00 1 in liability insurance.
2:33:21
In 2023 I was paying $3.34 In 2024, I was paying $3.87.
2:33:25
And now for 2025, I'm being told it will be $4.10.
2:33:30
I am in support of local law to amend the administrative code of the City Of New York in relation to limiting the amount of liability coverage the tax and limousine commission may require for vehicles a license because we are the safest drivers in New York City, and the extremely high insurance we pay is burning thousands and thousands of drivers.
2:33:47
On 01/17/2025, I sent, an email to American transit, and I was expressing the same thing I just expressed to you guys.
2:33:57
And I was asking them why my insurance rates keep increasing when my TLC license is clean and my DMV license is clean.
2:34:05
I never received a response from them.
2:34:07
Okay?
2:34:08
I have also shared my my email to American Transit with council member Dela Rosa, okay, in support of this bill.
2:34:16
Thank you for allowing me to testify.