You’re absolutely correct, Reality Check.
The CA Legislature hasn’t raised the CA legal minimum auto liability limits in over forty (40) years! Nor have they put an inflation guard in place! 15/30/5 may have been enough money in 1967, but it’s not enough money in today’s dollars! You may have enough coverage to be legal, but that doesn’t mean you have enough coverage
to cover your assets. Allowing “agents” to write auto coverage above the legal minimum, when they only need to have 20 hours of study, is a disservice to clients
and career agents. The Guv strikes again.
Turn the industry into a commodity shop. Don’t coordinate coverage or offer an umbrella to anyone who actually works for a living. This license should only allow the holder to write the low-cost plan or Assigned Risk. Why allow an “agent” to write 15/30/5 or 10/20/3 on a guy that owns a house or works in California? Has there been zero inflation and no increase in tort awards since 1967? Apparently not. Check the DMV code if you aren’t sure when the original Financial Responsibility Law was written. That’s something they should include in CE.
You’re absolutely correct, Reality Check.
The CA Legislature hasn’t raised the CA legal minimum auto liability limits in over forty (40) years! Nor have they put an inflation guard in place! 15/30/5 may have been enough money in 1967, but it’s not enough money in today’s dollars! You may have enough coverage to be legal, but that doesn’t mean you have enough coverage
to cover your assets. Allowing “agents” to write auto coverage above the legal minimum, when they only need to have 20 hours of study, is a disservice to clients
and career agents. The Guv strikes again.
Turn the industry into a commodity shop. Don’t coordinate coverage or offer an umbrella to anyone who actually works for a living. This license should only allow the holder to write the low-cost plan or Assigned Risk. Why allow an “agent” to write 15/30/5 or 10/20/3 on a guy that owns a house or works in California? Has there been zero inflation and no increase in tort awards since 1967? Apparently not. Check the DMV code if you aren’t sure when the original Financial Responsibility Law was written. That’s something they should include in CE.