FIRST AT FIVE. GOOD AFTERNOON. IM MEREDITH ANDSON. AND IM TOM CAMBPELL. STARTING IN OCTOBER, CAR INSURANCCOMPANIES IN GEORGIA HAVE THE RIGHT TO RAISE YOUR RATES.NO QUESTIONS ASKED. INSURANCE COMPANIES STILL HAVE TO FILE THE RATE INCREASE WITH THE INSURANCE COMMISSIONERS OFFICE.. BUT THE COMMISSIONER CAN NO LONGER VETO THE INCREASE. BOTTOM LINEYOU COULD BE PAYING MORE TO PROTECT YOURSELF ON THE ROADS.... ROADS....NEWS 12S GENE PETRIELLO SPENT THE DAY TALKING TO DRIVERS AND AS YOU CAN IMAGINE NOONE IS EXACTLY THRILLED ABOUT POSSIBLY HAVING TO PAY MORE. MORE.NO THEYRE NOT AND 4 NEITHER IS THE GEORGIA INSURANCE COMMISSIONER. HE SAYS HES DISAPPOINTED BECAUSE THERES OOTHING HE CAN DO ABOUT IT. THEY BEGGED... HELP US OUT SONNY! LAUGHTER! LAUGHR! THEY PLEADED... PLEADED... PLEASE DONT DO IT! IT! BUT GOVERNOR SONNY PERDUE IS CLOSING THE DOOR ON THCAR INSURANCE DEBATE. THERES A NEW LAW IN TOWN AND YOUR CAR INSURCE RATES.. JUST LIKE GAS PRICES.. COULD BE GOING UP. UP. I CERTAINLY DONT LIKE IT. IT. I HATE SHOPPING FOR INSURANCE. INSURANCE. NATS OF THE CAP ON THE GAS TANK TA BUT WITH NO CAP ON THE PRICE YOU JUST MIGHT HAVE TO LIKE SHOPPING AROUND. LAWMAKERTELL NEWS 12 MORE COMPETITION WILL MEANOWER PRICES. THAT IS ALWAYS TALKED TO US IN ECONOMIC CLASSES, AS MORE COMPITION THE PRICES GO DOWN, BUT IN THE OIL INDUSTRY THAT IS CERTAINLY NOT TRUE. TRUE. YOU GET WHAT YOU PAY FOR, THATS MY MOTTO. IF YOU GO FOR THE CHEAP TES, YOURE NOT GOING TO GET THE SERVICE YOU NEED WHEN YOU NEED IT. IT. IF WE COULD FIND CHEAPER RATES, THAT COULD BE GOOD. GOOD. I DONT SEE A REASON R LEAVING SOMEBODY JUST BECAUSE ITS GOING TO COST YOU A COUPLE OF EXTRA DOLLARS ESPECIALLY WHEN YOURE GETTING GOOD SERVICE. SERVICE. AND THE MORE MONEY YOU COULD BE PUMPING INTO YOUR CAR INSURANCE THE MORE YOU HAVE TO WORRY ABOUT THE COMPANIES ABUSING THEIR NEW POWER. POWER. SOME OF THE COMPANIES ARE GOING TO TAKE ADVANTAGE OF THESE PEOPLE. PEOPLE. YOURE LOOKING TOWARD THE SAME BILL AND THEN YOU T ONE MONTH THATS NOT THE SAME. I THINK THATS NOT RIGHT. RIGHT. SO CHECK YOUR CAR INSURANCE RECIEPT SOON. IT JUST MIGHT SURPRISE YOU! NOW I TALKED WITH INSURANCE COMMISSION JOHN OXENDINE TODAY AND HE SAY HE IS HOPING NO ONE WILL ABUSE THIS NEW LAW. AND HE CALLED IT A BIG DISAPPOINTMENT GOVERNOR PERDUE WOULD SIGN IT. HE THINKS PEOPLE ARE GOING TO BE SWITCHING INSURANCE COMPANIES PRETTY OFTEN. GEORGIA ISNT THE ONLY STATE GOING TO THE FILE AND USE CAR INSURANCE POLICY. INDIANA HAS IT TOO AND LEADERS THERE SAY ITS WORKING.LAWMAKERS HAVE THE AUTHORITY TO TAKE AWAY A COMPANYS LICENSE IF THEY HAVE EXCESSIVE RATE INCREASES. THE COMMISSIONS OFFICE IN GEORGIA TELLS NEWS 12 THEY HAVE NO AUTHORITY TO STOP THE POTENTIAL PRICE INCREASE. ONLY LEGISLATURES CAN STOP THE RISING PRICES IF THEY PASS AN AMENDED LAW. WERE ALSO WORKING ON AN PORTANT STORY TODAY THAT COULD AFFECT YOUR HOMEOWNERS INSURANCE.

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AIRDATE: 05-15-2008
TRANSCRIPT: first at five. good afternoon. im meredith andson. and im tom cambpell. starting in october, car insuranccompanies in georgia have the right to raise your rates.no questions asked. insurance companies still have to file the rate increase with the insurance commissioners office.. but the commissioner can no longer veto the increase. bottom lineyou could be paying more to protect yourself on the roads.... roads....news 12s gene petriello spent the day talking to drivers and as you can imagine noone is exactly thrilled about possibly having to pay more. more.no theyre not and 4 neither is the georgia insurance commissioner. he says hes disappointed because theres oothing he can do about it. they begged... help us out sonny! laughter! laughr! they pleaded... pleaded... please dont do it! it! but governor sonny perdue is closing the door on thcar insurance debate. theres a new law in town and your car insurce rates.. just like gas prices.. could be going up. up. i certainly dont like it. it. i hate shopping for insurance. insurance. nats of the cap on the gas tank ta but with no cap on the price you just might have to like shopping around. lawmakertell news 12 more competition will meanower prices. that is always talked to us in economic classes, as more compition the prices go down, but in the oil industry that is certainly not true. true. you get what you pay for, thats my motto. if you go for the cheap tes, youre not going to get the service you need when you need it. it. if we could find cheaper rates, that could be good. good. i dont see a reason r leaving somebody just because its going to cost you a couple of extra dollars especially when youre getting good service. service. and the more money you could be pumping into your car insurance the more you have to worry about the companies abusing their new power. power. some of the companies are going to take advantage of these people. people. youre looking toward the same bill and then you t one month thats not the same. i think thats not right. right. so check your car insurance reciept soon. it just might surprise you! now i talked with insurance commission john oxendine today and he say he is hoping no one will abuse this new law. and he called it a big disappointment governor perdue would sign it. he thinks people are going to be switching insurance companies pretty often. georgia isnt the only state going to the file and use car insurance policy. indiana has it too and leaders there say its working.lawmakers have the authority to take away a companys license if they have excessive rate increases. the commissions office in georgia tells news 12 they have no authority to stop the potential price increase. only legislatures can stop the rising prices if they pass an amended law. were also working on an portant story today that could affect your homeowners insurance.