So my questions for you are...
1. Do you own anything
2. Do you drive
3. Do you work
4. Do you think we live in a litigious world
So if these answers are all yes, my point is made relatively easily. I understand those who tell me they only own a home, in which they are underwater anyway, and have no real assets. What about your salary? That is a huge asset for most folks and in some homes, if it were to be garnished by 20% each year would have a tremendous effect right?
Let me pose a scenario - you are driving alone, absolutely not texting or talking on your cell phone and that precious device slides to the floor, you reach down to grab for it and a deer runs out in front of the vehicle in front of you who then slams on her brakes and you slam into the rear of the vehicle. Lets say you have 300,000 worth of liability coverage....which is relatively common or should be at this point. Imagine this 24 year old woman is now disabled for the foreseeable future. Any idea how her lawyer will calculate the amount you are going to have to pay...
Her current annual salary + each working year for the next 38 years give or take including inflation. Lets assume its 30,000 x 38 years = 1.1 Million dollars give or take.
Here's another good one - now take everything you have that is able to be liquidated legally, once exhausted, take that number and take 20% of your salary until the remainder is paid.
Yes, I know, a little gloom and doom. This actually happened and does more often then you would imagine. So, in my opinion, yes - Umbrella's for all.
matt@delwareinsurance.net
Outdoor patio umbrella insurance News policy - heard this before, doesn't the item? A number of us could possibly have discovered this specific at just one point or another however the majority of us may possibly realize not very much or anything over it. For the reason that name themselves shows, this umbrella insurance policies shields somebody within periods involving lawful difficulties just like a umbrella that shields just one throughout a downpour.
ReplyDeletethis common account in which somebody acquired sued with regard to plenty nevertheless the Trucking Insurance firm could just pay 59 per cent from the quantity approximately? Suppose that you will be sued by means of other people plus the judge awards your pet a better reimbursement in comparison with whatever you can pay for. To put it differently, ones insurance firm has the capacity to shhh upward an amount that may be less than just what this judge aimed that you give to the opposite gentleman. Today you, this plan loop, has to spend additional quantity via her own pants pocket.
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