When we have an accident we all want prompt courteous response to our request for payment of the claim and we want to be paid fairly. I believe that most people aren’t out there trying to “game the system” and profit off the claim. Most people simply want what the insurance company owes them – reimbursement for the loss.
However there are a few people out there that really do want to play the game and profit from the accident as if they had just won the lottery. We all know who those people are and we have seen them do it. We also know that insurance money isn’t free. You have to pay for insurance each and every month. That money comes directly out of your pocket.
The Supreme Court in the State of New Mexico has recently had several rulings that have greatly benefited the consumer. Or have they? The recent ruling have greatly increased the amount that insurance companies have to pay in the event of an accident, but these same rulings have greatly increased premiums.
The question that I have is a personal one and there is not right or wrong answer, but there is a choice to be made. You can’t have your cake and eat it too. You can either have lower insurance payouts or lower premiums, but not both. Which would you prefer?