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HippoSleek · 02-03-2002, 10:42 AM

</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">Quote: from twofortysx on 9:29 am on Feb. 2, 2002
</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">I make around 50k/yr but in Sacramento (and likely all across the country) people are sue happy. People will sue your ass for looking at them crooked. I keep high coverages because if I cause an accident I want to make sure that I'm covered as far as liability goes and that the other party is covered too. I mean, if I do something stupid and hurt somebody I don't want them to have any troubles more than their injuries. Plus, if they sue and it's less than my limits, I'm covered, but if I had like 25k limit and they sued for 30k, guess where that other 5k comes from <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'>
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I totally understand the "sue happy" mentality (I'm an attorney <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/wink.gif" border="0" valign="absmiddle" alt=';)'>).  What I was saying is that for many people who barely make enough to live on are "judgment proof."  If you an in an accident, people will sue to the limit of your policy (say $50K).  If their injuries exceed that, policies have "uninsured/underinsured" motorist provisions which allows them to claim from their own policies to the limit of coverage.  The insured (crashee) can either sue you or take against the policy.  

If they chose to sue you, there is a limit to what they can get (can't get car, house, clothes off you back, etc.) - only your resources above that needed for basic living.  Generally, someone making $40K or so is barely getting by and can't afford to pay a judgment.  Therefore, if they sue and win a judgment, it can't be paid b/c there is no extra money.  That is being judgment proof.  As a result, they will generally not waste their time suing you, but will get the excess money from the policy.  

Accordingly, someone who makes barely enough to live on should not get high limit insurance b/c they literally have nothing to lose.
-mark (who now has 300/500 <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/wink.gif" border="0" valign="absmiddle" alt=';)'>)

02-03-2002, 10:42 AM	#32
HippoSleek Nissanaholic! Join Date: Aug 2001 Location: elsewhere Posts: 2,081 Trader Rating: (0)	</span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">Quote: from twofortysx on 9:29 am on Feb. 2, 2002 </span><table border="0" align="center" width="95%" cellpadding="3" cellspacing="1"><tr><td>Quote </td></tr><tr><td id="QUOTE">I make around 50k/yr but in Sacramento (and likely all across the country) people are sue happy. People will sue your ass for looking at them crooked. I keep high coverages because if I cause an accident I want to make sure that I'm covered as far as liability goes and that the other party is covered too. I mean, if I do something stupid and hurt somebody I don't want them to have any troubles more than their injuries. Plus, if they sue and it's less than my limits, I'm covered, but if I had like 25k limit and they sued for 30k, guess where that other 5k comes from <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/smile.gif" border="0" valign="absmiddle" alt=':)'> </td></tr></table><span id='postcolor'> I totally understand the "sue happy" mentality (I'm an attorney <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/wink.gif" border="0" valign="absmiddle" alt=';)'>).  What I was saying is that for many people who barely make enough to live on are "judgment proof."  If you an in an accident, people will sue to the limit of your policy (say $50K).  If their injuries exceed that, policies have "uninsured/underinsured" motorist provisions which allows them to claim from their own policies to the limit of coverage.  The insured (crashee) can either sue you or take against the policy.   If they chose to sue you, there is a limit to what they can get (can't get car, house, clothes off you back, etc.) - only your resources above that needed for basic living.  Generally, someone making $40K or so is barely getting by and can't afford to pay a judgment.  Therefore, if they sue and win a judgment, it can't be paid b/c there is no extra money.  That is being judgment proof.  As a result, they will generally not waste their time suing you, but will get the excess money from the policy.   Accordingly, someone who makes barely enough to live on should not get high limit insurance b/c they literally have nothing to lose. -mark (who now has 300/500 <img src="http://www.zilvia.net/f/iB_html/non-cgi/emoticons/wink.gif" border="0" valign="absmiddle" alt=';)'>)