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Do you truly believe....

... that "State Farm North Carolina" is a different company than "State Farm Louisiana"....that when Allstate pays a claim in Texas for damage from Ike, it doesn't reduce the funding available to pay claims anywhere else in the country? There is no sacred, reserved money. It all comes out of a big corporate pot and is shifted around and paid out where it is needed. The simple fact is that so much has been paid out since 2004 that the insurance company cash reserves are dangerously low. Would you rather not have a rate increase and have your insurance company tell you, "Sorry - we're broke" when you really need them the most? Remember, too, that it wasn't too long ago that the Insurance Commissioner had to wheel, deal, threaten and cajole the insurance companies into REMAINING in North Carolina, but here's the bottom line: If they reach a point where they can't make money, they will simply leave the state. We'll wind up in a huge quagnmire, like Florida has found itself in for the past two years, as company after company cancels policies or refuses to write any new ones.


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