This is the most expensive, worst and most complicated disaster that we've had to deal with for a long time. |
Unfortunately, there's no norm with health insurance because it's changed so dramatically. |
We're expecting premiums to continue moderate. The increase in 2005 should be smaller than last year, probably less than 2.8 percent. |
We're expecting premiums to moderate ... and (the growth rate) will probably continue to slow except in some parts of the country. |
What gets people into trouble are small claims several times a year. It indicates there's a pattern there. |
When there is a big catastrophe, rates don't go up in other parts of the country to make up for the losses. That's not how it works. |
When there's a disaster, insurance companies practice a form of triage and go to the worst damages first. |
When you purchase auto insurance, you also purchase a certain amount of liability protection. Most people get around $300,000 worth of liability protection. That is a good amount for the average person. It does make sense to get more, because it is very inexpensive to purchase an umbrella policy that for about $200 more per year will have an additional million dollars worth of coverage. |
You could be the best driver in the entire world. But if there is a 10 car pile-up and you're number 5, you're going to get sued no matter what. |
You don't want a situation where you have to prove that you had a $10,000 Barbie doll collection after it's destroyed. |