It seems every day, we hear another horror story about skyrocketing insurance rates. Today, it comes from a contractor on the Coast.
Les Price builds houses here, and has been doing so for more than 20 years around the South. You won't believe what his insurance premium is this year.
"I had to pay 15,000 for one year," said a still stunned Price.
In the past, his liability insurance would cost in the range of one to two thousand dollars. He never dreamed it would go up to $15,000. As for his reaction when he found out, according to Price, "My wife thought I was going to die."
Price says as bad as the $15,000 qoute was, he had another, that was for $30,000.
"I said I am working for nothing, I make 30 to 40 thousand a year, and I have to put out 30 thousand in insurance, so, where does that put me on pauper street, I have to go down and get food stamps," says Price.
Price says he has never spent a day on unemployment, and won't do it now. He has also never had an insurance claim filed against him.
As for what happened when he told his insurance company how unhappy he was?
"They told me take it or leave it, because if you don't take it, you don't get it," Price said.
Price had to grit his teeth and pay the premium, money he has actually had to borrow from the developer he is working for in Orange Grove. Somehow, someway, he says he will make it, but candidly admits, he is angry.
"Things are tough, yes sir, they are real tough. I thought it would be different these years when I got older, but that was wrong. It has gotten worse every year."