OP,Wow…that’s just an awful situation all around. THAT is something I’d like to avoid, obviously.Glad to see so many folks pointing at future earnings being an exposure needing protection.
A friend sued a driver who hit him causing substantial, permanent disability. The driver filed for bankruptcy protection but my friend was able to convince the judge not to discharge this particular debt. Judge agreed and and awarded 50% of future earnings to the injured party. Every year for many years, after the at-fault driver was writing checks...right up until he committed suicide.
Wage garnishments and settlements exceeding your maximum insurance limits are something plaintiffs lawyers try to avoid. They want the largest payout as quickly as possible for their clients. It also differs by state as to what whether or not wages can be garnished in personal injury cases. So take a look at your state's laws.
Again you probably don't "need" the umbrella insurance but if it helps you SWAN then you should shop around and check into the costs.
Compared to potential legal fees it is a good deal.
Statistics: Posted by rossington — Tue Jun 11, 2024 5:57 pm