This hidden threat can devour more than $100,000 of your wealth.
div > div.group > p:first-child"> Investors will take great pains to protect themselves from market volatility or to save a few dollars in taxes, but shielding their wealth from legal judgments is often an afterthought.
The property-casualty insurer polled 200 individuals and families with at least $1 million in investable assets.Your home and auto policies already offer some form of liability coverage in the event you're sued for bodily injury or property damage. If you're sued and you don't have excess liability insurance, you'll be responsible for any dollar amounts over what your home and car policies will pay.
The pedestrian sued Mendels for more than $3 million, but wound up getting only $20,000 from his insurer in a settlement.If you're short on liability insurance, your house is just one of the assets that's up for grabs in a lawsuit.
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