Robert wrote:
>A drop in the bucket for a corporate entity in today's litigious society.
>Nothing I did was my fault, and even if it was I would want to sue you
>anyway. Much better odds in court than with the lotto.
>
>This is why I just upped my auto/home liability coverage to $2 million...at
>a cost of under $400 a year.
>
This issue was discussed just this weekend on the Mercedes list. The
context was the cost of insurance for folks with sig file including a
lot of cars -- applies for most of us here too. ;) One fellow used to
carry a relatively high liability coverage through his auto insurance of
$500k. He found that by reducing the amount of liability coverage to the
minimum required by the state (or the underlying limits mentioned next),
he could purchase a $3 million umbrella liability policy -- which would
also cover people tripping on a dandelion in his yard -- for roughly the
same amount of money. Umbrella issuing companies will require the policy
holder to carry underlying liability limits of say $100,000 to $300,000
or a single limit of $100,000 to $300,000.
Steven Newell
Littleton, CO USA
'62 TR4 x 2
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