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.