On June 17, 2020, Stephen Waguespack, the president of the Louisiana Association of Business & Industry, appeared on a radio show hosted by Erin McCarthy of KEEL 710 AM.
On the program, McCarthy challenged Waguespack over legislation that would make it harder for individuals to sue companies in state courts. Tort reform had been a key goal of the state’s community of business owners, and the law eventually was passed.
The primary argument that led for the law to be passed was that auto insurance premiums in the state would go down if the state filed fewer lawsuits against insurance companies. McCarthy fought back against this premise on air, and Waguespack vehemently disagreed, saying he would go so far as to grab “a tiki torch right with you going to the Capitol saying, ‘this didn’t work.’”
Ultimately, auto insurance premiums did, in fact, increase over the last year. No auto insurer even applied to lower rates.
Insurance premiums increased by an average of $124 over the last year. The average driver in the state now pays $2339 per year for auto insurance. This corresponds with national increases in recent years, but Louisiana is significantly above the average annual premium in the United States ($1,470 per year).
On the one-year anniversary of the appearance on the radio show, Waguespack was the recipient of a number of tiki torches delivered by Real Reform Louisiana.
Auto insurance customers who are paying larger rates should have a reasonable expectation that they will be fairly covered and compensated should they need to file a claim at some point.
During insurance negotiations, it is common practice for insurance adjusters to attempt to lowball their customers so the insurance company doesn’t have to pay a lot of money to resolve a claim. You have the right to good-faith negotiations with these adjusters, especially if you believe the initial offer was unfair.
One of the best ways to succeed in negotiations with insurance adjusters is to work with an auto accident attorney. These attorneys understand the industry and the negotiating tactics used by insurance adjusters, and will be able to aggressively advocate for you so you can maximize the dollar figure in your potential settlement.
For more information about the strategies you can use to negotiate your insurance claim and make your premiums worthwhile, contact the legal team at Mark Artall, APLC.