Insurance companies are not in the business of providing multi-million dollar handouts to anyone who files a lawsuit.I'd assume trying to collect assets from someone outside of their insurance is time consuming and expensive, so with a $5m policy that may be enough to incentivize a lawyer and their client to settle a claim and be done rather than sue someone and hope they can later garnish wages, etc. But if they see that you have a $10m policy, they may be more likely to sue you because they know you're easily collectable up to $10m.How is it the opposite effect of what you want?
Statistics: Posted by Northern Flicker — Thu Dec 26, 2024 2:06 pm — Replies 51 — Views 3577