0
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.
What else can I help you with?
How much liability coverage do I need for my insurance policy?
The amount of liability coverage you need for your insurance policy depends on factors like your assets, income, and potential risks. It's recommended to have enough coverage to protect your assets in case of a lawsuit. Consulting with an insurance agent can help determine the appropriate amount for your specific situation.
How much liability insurance do I need for my specific situation?
The amount of liability insurance you need depends on factors like your assets, income, and potential risks. It's recommended to have enough coverage to protect your assets and future earnings in case of a lawsuit. Consider consulting with an insurance agent to determine the appropriate amount for your specific situation.
What is the recommended amount of liability insurance that you should have?
The recommended amount of liability insurance you should have is typically at least 100,000 to 300,000, but it can vary depending on your individual circumstances and assets. It's important to consider factors like your income, assets, and potential risks when determining the appropriate coverage amount.
How much liability insurance do I need on my car?
The amount of liability insurance you need on your car depends on your state's minimum requirements and your personal financial situation. It is recommended to have enough coverage to protect your assets in case of an accident.
Why Liability equals Assets?
Assets- Liabilities = Owners Equity :)
Who needs liability insurance?
Anyone who has a job and assets to protect.
What sort of liability insurance does one need for a sole-proprietor transportation business?
Commercial auto insurance General liability insurance Highly recommend you incorporate to remove the liability from your personal assets work comp if you hire drivers
Does insurance go under assets or liabilities?
If insurance paid in advance then it is asset but if insurance benefit taken and payment not made then it is liability.
How do you protect your assets from a lawsuit?
Liability insurance. An irrevocable trust made with the help of an attorney.
What are reasons that one would need to purchase business liability insurance?
Business liability insurance protects a company's assets from a lawsuit. If a business is high risk or doesn't have enough capital to cover a lawsuit, they should have business liability insurance.
How much liability coverage do I need for my insurance policy?
The amount of liability coverage you need for your insurance policy depends on factors like your assets, income, and potential risks. It's recommended to have enough coverage to protect your assets in case of a lawsuit. Consulting with an insurance agent can help determine the appropriate amount for your specific situation.
How much liability insurance do I need for my specific situation?
The amount of liability insurance you need depends on factors like your assets, income, and potential risks. It's recommended to have enough coverage to protect your assets and future earnings in case of a lawsuit. Consider consulting with an insurance agent to determine the appropriate amount for your specific situation.
What is the recommended amount of liability insurance that you should have?
The recommended amount of liability insurance you should have is typically at least 100,000 to 300,000, but it can vary depending on your individual circumstances and assets. It's important to consider factors like your income, assets, and potential risks when determining the appropriate coverage amount.
When is general liability insurance required?
General liability insurance is required for your business as soon as you have something to protect, whether that be assets, sales, employees, a building, etc. We recommend you buy general liability insurance once you have a location, sales, employees, or anything to lose. GL Insurance helps you protect and defend your business from lawsuits.
Business Liability Insurance ?
form_title=Business Liability Insurance form_header=Protect your business with the right business liability insurance for your needs. What is the annual revenue of your company?=_ Does your company currently have insurance coverage?= () Yes () No What type of business liability insurance do you need? (Check all that apply)= [] General Liability [] Workers Compensation [] Business Owners Policy (BOP) [] Property [] Professional Liability [] Business Travel [] Business Automobile
How much liability insurance do I need on my car?
The amount of liability insurance you need on your car depends on your state's minimum requirements and your personal financial situation. It is recommended to have enough coverage to protect your assets in case of an accident.
Can you get auto insurance with out having a car?
Even if you do not own a car, you still need insurance protection if you drive one. The auto you borrow, rent, or use may have proper insurance coverage, but you also should protect yourself with personal liability protection. Here is how to get it: Ask for the cost of higher liability coverage based on the assets you own and your projections of future income to be protected. For your protection, consider purchasing as much liability insurance coverage as you can afford Ask the insurance company or agent about your state's minimum liability coverage rules. States differ in the minimum liability insurance coverage they require. Analyze your assets, including home, furniture, art, clothing, computer, electronics, and all other personal assets. Get quotes for liability insurance only. Estimate your future income. This is important because, like life insurance, you want to protect your future income as much as possible. This calculation often results in a larger amount than all of your personal assets. I wish you the best
