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Amount of liability insuranceYou should get enough general liability insurance to cover your net worth or your perceived potential liabilities.

If you're involved in high-risk activities, you might consider even more insurance.

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2011-08-16 22:38:17
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Q: If somebody has a 100K dollar net worth how much liability insurance do they need?
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What exactly does liability insurance cover Is it worth paying for this if I'm starting a company?

It would definitely be worth getting liability insurance for your new business. It is in place to protect businesses from being sued by a third party due to negligence. Having liability insurance is a must for any business. Liability insurance, or business insurance, protects your company against lawsuits that claim you failed to use reasonable care.

Which insurance companies provide liability insurance?

Many insurance companies will provide liability insurance at various rates depending upon the situation. Examples worth looking at would be Cornell and Admiral who provide good low rates for it.

Where can one find a company that sells liquor liability insurance?

Many business insurance companies will provide liquor liability insurance. However, to make sure that you are getting both the right cover and the best deal it may be worth discussing with a broker.

Is collision car insurance more expensive than liability only?

The personal liability portion of your car insurance is for damage you may cause to others. The collision portion of your car insurance is for your vehicle. If your vehicle is very old, with lots of miles and is not worth much, you may consider not getting it.

What is the value of a 1722 silver dollar?

hard to say...but being that old, it could be worth a lot to somebody who collects coins hard to say...but being that old, it could be worth a lot to somebody who collects coins

Is cheap liability car insurance really worth it in the long run?

Each state has regulations regarding auto insurance. Any agent or company that gives you a quote must consider the state requirements and offer coverage that meets or exceeds those requirements. You are required to carry insurance. If the vehicle is free of liens, you can carry only liability to cover any damage that you might do to property or persons when driving. The cost of driving without insurance is quite high. So, yes, liability insurance is well worth it, in both the short- and long-run.

What types of vehicles is auto insurance required for?

Any Vehicle that is road worth must have insurance for at least liability. If the vehicle is not road worthy it does not have to have insurance but will not be covered for anything if someone were to damage it by fire or theft. Insurance may also differ from country to country.

If you have 100k in assets and 100k worth of liability insurance wouldn't somebody just be able to sue me for 200k?

What someone sues you for rarely has anything to do with how much insurance you have. As a practical matter, the plaintiff will rarely go after the personal assets of a tortfeasor, unless there are social issues involved (dui) or the defendant has large assets and the injuries are very serious. no. they can sue for future earnings as well.

Is accounts payable helps the business?

The syntax of the question is flawed and therefore unanswerable as stated. However, if you meant 'are accounts payable an asset to the company or a liability?' -the answer is that payables represent what you owe to somebody and are therefore a minus(liability) to overall net worth of the business.

What is a 1974 d Eisenhower dollar worth?

Unless you know somebody trying to put together a collection of them an are will to pay a premium, value is $1.05

What value should your car be to drop full coverage insurance to just liability?

Usually if the vehicle is over 10 years old and worth less than $3500. However, the value is a personal preference. If you have a $3500 car and it was totaled with no comprehensive or collsion coverage, could you afford to replace that vehicle without insurance reimbursement? So the dollar amount is your own risk.

Why isn't the cost of liability insurance proportional to the amounts of protection for instance why doesn't a 100000 limit of liability cost two and one-half times as much as a 40000 limit?

The cost of liability insurance is not proportional to the amount of protection of insurance because it is based on cost of overhead and payout. The office costs for one policy are the same as for another policy regardless of amount. The other reason has to do with payout. An accident occurred. A driver ran a stop sign and hit another car. The driver that ran the stop sign was at fault. He did $ 5,000 worth of damage to the other car. His insurance covered it. It did not matter if he had $ 10,000 worth of insurance or $ 100,000 worth of insurance. The insurance company still paid $ 5,000. Since most accidents are in that range, most of the costs go to cover that type of accident. Very few accidents occur that would cost $90,000 to fix. The cost of insurance that is against rare events is quite low.

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