Posted On: July 1, 2008, 4:19 pm CDT

Posted By: Sheltowee

Good job jury. This is a wake up call. Policy holders are paying thousands of dollars for perils that are not likely to occur. It is time the insurance companies start providing coverage for what the consumer wants, pays for, needs and expects. If an insurance company can't afford to insure for the catastrophic event, then they shouldn't be selling insurance. In truth, the consumer should not be expected to remember all the fine print in the exclusions. And who is "We". Our premiums were going up anyway this is the nature of the insurance industry beast. WE NEED fewer insurance companies and less diversity, and real competition driven by the demand for service, coverage and rate. Right now you have too many companies not big enough to justify the business they are buying at too low a rate, which they fully intend to raise, because they'll have to. Or if a catostrophic event occurs first they'll simply go bankrupt. This in the long run drives up the rate for all insurance companies, putting many consumers at risk and effects the profitability for all.