This is in response to Stephanie Cadematori’s letter complaining that she can’t get a parking permit because she is still on her parents’ insurance and, as a result, is getting booted.
Have you heard of the term, “rate jumping”? Go to this link to find the Council of Insurance Brokers of Greater New York’s definition of rate jumping http://cibgny.com/wordpress/?p=1441. It’s when someone registers his/her car in one location that has lower insurance rates yet parks overnight, regularly elsewhere.
Do you realize that if your parents’ insurance carrier asked on its application for coverage where the car is garaged regularly, and you are parking it regularly in Hoboken, and your parents state otherwise, they may be committing fraud? While I am no big fan of insurance companies, it is a fact that Hudson County has the highest auto insurance rates in New Jersey, given its urban attributes and its location between NYC and Newark.
On its application for coverage, NJ Manufacturers asks this question: “Are any of the vehicles you are seeking to insure parked overnight at a location other than your residence?” You can get a copy of the application used by every carrier selling auto insurance policies in New Jersey by visiting to the NJ Division of Banking and Insurance on-line. Auto insurers want to know where a car is primarily located for purposes of charging the appropriate premium.
If Hoboken permitted residents who were “borrowing” cars registered elsewhere to get a resident parking permit, many NYC commuters could find a willing Hoboken resident to claim that he/she is “borrowing” a car in order to get a resident sticker for $15. a year and pay lower insurance rates. Commuters would drive to Hoboken, park in a non-metered spot and leave the car here all day while they went to the city. The likely scenario that would result leaves no parking for real Hoboken residents.
In an urban environment such as Hoboken, a car is a luxury. Even as a real estate agent you don’t need your own car. Walk your clients to show them listings – Hoboken is a great walking city. Use Hertz Corner Cars or Zip Cars – readily available and cheaper than a typical rental car. If your parents are paying, why don’t they start paying for your insurance, with a reimbursement from you for the excess “Hudson County premium?”
Are there more cars than parking spots in Hoboken? Sure. I believe most Hoboken residents have no complaints about the parking rules and I do not agree that Mayor Zimmer and Director Sacs are “out-of-control.” They are simply trying to enforce the law and keep people and vehicles moving along. We are very fortunate to have a Mayor like Dawn Zimmer and a Traffic and Parking Director like Ian Sacs. They are honest, smart, and award-winning innovators in their approach to transportation solutions in our city and totally dedicated to their mission of improving the quality of life for all Hoboken residents. Keep up the good work, Mayor Zimmer and Director Sacs…and Thank You!
Deborah A. Hulbert