Posted On: June 23, 2009, 1:03 pm CDT

Posted By: John

Why is it ok for the insurance commissioner to approve rates for a domestic carrier higher than my State Farm policy if the current system is so fair. I have been asking that question on these blogs for a while now but no one answers that. I liked the one comment that if State Farm can't make it on the same field as these other carriers they should just leave.

With the rate comparisons I have gotten it seems like State Farm has been told to accept a much lower rate than most of the domestics while the domestics are allowed these higher rates. Is this the level playing field they are talking about. Seems like fair to them is running State Farm out so they can write all the inland business. No wonder the domestics are aginst this bill State Farm would still be lower priced even with their rate increases than the domestics with regulated rates where I live.

They complain that State Farm and the other large carriers will cherry pick inland risk. If it is a level field why are the domestics only writing inland risk. They may have taken policies out of Citizens in the high risk area but they are not writing new business in those areas. The insurance commissioner is worried that the domestics will not take all of State Farm's business based on what he has said. Sounds like the domestics are not willing to take the risk State Farm has on the books but at the same time the state won't approve rates. What is really going on here?

I don't understand why I should have to pay two or three times more to go to a company I have no trust in or have ever heard of to purchase my insurance. Sounds like the Domestic carriers are just as greedy as they claim the large companies are. The problem is the insurance industry has forgotten about the customer all together and so have many of you. This blog asks if this is still America, deregulate one deregulate all. I say if one company can charge a rate all should be allowed in the same market.

If I can choose to buy insurance from who I want when this bill is signed I'm for it and I want the governor to sign it. I saw the difference between companies after Andrew and I as an American should have the right to pay more and get the company I want. Deregulation would be nice for all but I don't have time to wait for that dream if I want to keep my State Farm policy.

I pray all of you get deregulated at some point because it is obvious that regulation of rates is not working. I do think regulation should still exist regarding solvency and fair customer service.