Please support Brian Kemps effort to address tort law legislation.

[zingerdawg]

@zingerdawg - Appreciate the comments as you know your business. A lot of problems in home and auto and be glad you are not in Florida. You mentioned costs and we now have to insure our house for 50% more than estimated price (Redfin and Zillow) for replacement cost. This is using the insurance companies formula and also the one our independent agent uses. There has been fraud for sure and hurricanes, hail and sinkholes cause a lot of claims. A number of lawsuits occur because people don't realize what they are no longer covered for. We moved into our house in 1980 and had no hurricanes until 2004 and then we had three basically pass over our house. Fortunately, we are inland and the highest winds were probably around 90 MPH. We haven't had any hurricane claims fortunately. But we have had our roof replaced three times (they don't last long in Florida) and the insurance company paid twice due to hailstorms. I've had one car totaled by hail but that was a long time ago.

My wife hit someone from behind on the interstate when traffic stopped. It wasn't at a high speed, but the attorneys made a big claim out of it (I think it would infuriate most of us) and the insurance company paid. I understand it's not worth going to court. That's part of why our insurance costs are so high. But many insurance companies are far from being angels. I'm not trying to take sides.

I know a lot about WC and that's a separate ballgame to me.

I can’t imagine what it would be like to own property down there. I had a chance 20 years ago to have an agency in punta gorda. I just couldn’t pull the trigger for the reasons you mentioned. I feel for you brother. I really do

 

[PotimusWillie]

More like a defiant employer. I got injured and needed surgery. The company fired me. I called M&M and they got me in WC the next day.

What you got you would have gotten anyway. All you had to do is contact the WC company and they would have dealt with you directly. Your employer has no say. The WC company is legally and contractually obligated to handle your claim of injury while you were employed. And to do it directly with you.

Hint: The WC company doesn’t pay attorneys in addition to your settlement, it comes out of your settlement.

This is where M&M screws the consumer and insurance companies. This is part of the problem. Your settlement would have been bigger to you doing it yourself. You didn’t pay M&M a fee, did you?

 

[Jett Rink]

What amounts of auto liability coverage do you insurance guys recommend for those of us with some wealth to have to protect ourselves from these huge lawsuits? Should an Umbrella policy be mandatory? At what point does a ridiculously high award in a lawsuit pass your liability limits and they come for your personal assets?

 

[celticdawg]

I can’t imagine what it would be like to own property down there. I had a chance 20 years ago to have an agency in punta gorda. I just couldn’t pull the trigger for the reasons you mentioned. I feel for you brother. I really do

I appreciate it. Fortunately we can pay for it, but it means less than we expected to have. Also, fortunately we have a good homeowners insurance company and can get insurance. Some people would be shocked at the amount of people who drive around without auto insurance (even though it is required to renew your registration. What is scary is that people are now going without insurance on their home because they can't afford it. Obviously they can't have a mortgage. But retired people on a fixed income and paying more for everything sometimes just can't pay it. They likely have paid off their home and have that choice, though poor, to make. In addition to paying more, they have less coverage. 2% deductible has become common on hurricane coverage. Last April our homeowners only went up a little over 15%. But that was only after we got a new roof. And our hailstorm deductible went from a flat $2,500 to 2% of coverage. I mentioned our coverage is high because of replacement value and our deductible is now over $16,000 which is close to no coverage.

 

[celticdawg]

What you got you would have gotten anyway. All you had to do is contact the WC company and they would have dealt with you directly. Your employer has no say. The WC company is legally and contractually obligated to handle your claim of injury while you were employed. And to do it directly with you.

Hint: The WC company doesn’t pay attorneys in addition to your settlement, it comes out of your settlement.

This is where M&M screws the consumer and insurance companies. This is part of the problem. Your settlement would have been bigger to you doing it yourself. You didn’t pay M&M a fee, did you?

What you said here is 100% true. The problem is he said he was fired, presumably because of filing the claim. I'm not sure if that is the fact, but if it is then that is a separate issue.

 

[zingerdawg]

I appreciate it. Fortunately we can pay for it, but it means less than we expected to have. Also, fortunately we have a good homeowners insurance company and can get insurance. Some people would be shocked at the amount of people who drive around without auto insurance (even though it is required to renew your registration. What is scary is that people are now going without insurance on their home because they can't afford it. Obviously they can't have a mortgage. But retired people on a fixed income and paying more for everything sometimes just can't pay it. They likely have paid off their home and have that choice, though poor, to make. In addition to paying more, they have less coverage. 2% deductible has become common on hurricane coverage. Last April our homeowners only went up a little over 15%. But that was only after we got a new roof. And our hailstorm deductible went from a flat $2,500 to 2% of coverage. I mentioned our coverage is high because of replacement value and our deductible is now over $16,000 which is close to no coverage.

It is basically catastrophic coverage. That is where it is heading. More towards self insurance on the coast for sure. They already cut off the yearly policies for auto insurance. Because people would take one out for two months then drive around without insurance for the next ten months. I didn’t realize how bad it had gotten down there. That is a rough home policy man.