by Long Island Attorney Paul A. Lauto, Esq.
In recent days there has been some news media coverage of the widespread rioting and looting across America. Unlike constitutionally protected peaceful protesting, rioting and looting has left a path of destruction and damage across the country. The estimated price tag for this damage, is now between one and two billion dollars.
Although it is expected that insurance companies will cover the up to two billion dollars in destruction, do not think that they will be the only ones to pay for this. Insurance companies in general, look for virtually any excuse to raise rates. Traffic tickets, claims made, accidents (regardless of fault) and how much insurers have to pay out, are just a few of the considerations in raising rates. Even a glass only claim may count as a strike against a customer in an automobile policy.
It appears all but certain, that this multi-billion dollar bill will be passed along to the good and law abiding American citizens. Although the unlawful perpetrators of the looting and rioting are the ones who should be paying this multi-billion dollar bill, currently they are not being held accountable. Most of them aren't even being arrested and those who are, frequently get released without bail. It is also anticipated that insurers will likely change future commercial and personal policies, by either adding an exclusion for looting and rioting or requiring an additional rider for such coverage.
The untold consequences for the current state of lawlessness and disorder in our country is beyond measure. The damage will be financial, societal and otherwise. Increased insurance premiums and augmented exclusions will be just the tip of the iceberg. Law and order exists for the purpose of establishing justice. If we do not re-establish law and order, peace and harmony will always be elusive.
Long Island Lawyer
Paul A. Lauto, Esq.
www.liattorney.com
In recent days there has been some news media coverage of the widespread rioting and looting across America. Unlike constitutionally protected peaceful protesting, rioting and looting has left a path of destruction and damage across the country. The estimated price tag for this damage, is now between one and two billion dollars.
Although it is expected that insurance companies will cover the up to two billion dollars in destruction, do not think that they will be the only ones to pay for this. Insurance companies in general, look for virtually any excuse to raise rates. Traffic tickets, claims made, accidents (regardless of fault) and how much insurers have to pay out, are just a few of the considerations in raising rates. Even a glass only claim may count as a strike against a customer in an automobile policy.
It appears all but certain, that this multi-billion dollar bill will be passed along to the good and law abiding American citizens. Although the unlawful perpetrators of the looting and rioting are the ones who should be paying this multi-billion dollar bill, currently they are not being held accountable. Most of them aren't even being arrested and those who are, frequently get released without bail. It is also anticipated that insurers will likely change future commercial and personal policies, by either adding an exclusion for looting and rioting or requiring an additional rider for such coverage.
The untold consequences for the current state of lawlessness and disorder in our country is beyond measure. The damage will be financial, societal and otherwise. Increased insurance premiums and augmented exclusions will be just the tip of the iceberg. Law and order exists for the purpose of establishing justice. If we do not re-establish law and order, peace and harmony will always be elusive.
Long Island Lawyer
Paul A. Lauto, Esq.
www.liattorney.com
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