Tort reform advocates are once again beating the same old drum, insisting that if Florida would only lower its litigation costs, auto insurers could lower their rates for the rest of us.
Cape Coral car accident lawyers know the main problem with this line of reasoning is it doesn’t hold up under scrutiny.
As one auto insurance lobbyist testified not long ago, “It’s a misnomer to ever really believe that your rates are going to go down. There are so many pressures for it to go up: Medical costs continue to go up, the cost of the vehicle continues to go up, the amount of wages that you have to compensate for continues to go up. So maybe what you do is slow the rate of rise.”
Even that is a pretty big “maybe.” More than likely, what happens is insurance firms and other large corporations benefit, while those most seriously injured receive less compensation. Continue reading