Magazine content is available exclusively for TIME subscribers.INSURANCE: Up Again
The 20,000,000 insured automobile owners in the U.S. have been well braced for another steep rise in liability-insurance rates. Costs of auto repairs have shot up, insurance adjusters' salaries have risen with the cost of living, and court and jury awards for damages have been steeper and steeper (TIME, Aug. 27). Last week auto owners learned how steep the rise might be. Insurance companies are drawing up new rates, effective starting next month, which will be about 20% higher for the whole U.S. On accident-ridden Manhattan Island, where minimum coverage already costs $115 a year, the increase will be...
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