Insurance?

awesomez · 09-21-2009, 10:19 AM

Quote:

Originally Posted by Hi-TecDesigns

If I hit a new Z Touring with another Z Touring, totalling both (highway wrecks can easily get there), that's $80k in liability right there... suddenly that $25k seems a bit paltry to me. If it's a multi-car pile-up that you caused (it is an accident, so don't claim "I would never do that"), even $5k-$10k in damage per car would quickly add up.

25k is low but if you don't have 5k in property and accounts, it's not like someone can sue you for more.

Single driver does not pay for pile ups. They normally pay in the order the pile up happened with the last guy not paying anything.

Hi-TecDesigns · 09-21-2009, 11:21 AM

Quote:

Originally Posted by awesomez

25k is low but if you don't have 5k in property and accounts, it's not like someone can sue you for more.

Woh, are you in for a big surprise! They'll garnish your wages from now until you die to pay off debt from a lawsuit. Any tax refunds you might be due are automatically gone. Lottery winnings are automatically forfeit up to the amount you owe. Don't think that just because you don't have readily available assets now means you're safe (unless you don't mind living the life of a pauper until you're dead).

Quote:

Originally Posted by awesomez

Single driver does not pay for pile ups. They normally pay in the order the pile up happened with the last guy not paying anything.

The single driver pays for every item he hits, OR causes damage to by direct action. It won't take many hits to rack up a sizable bill. And what if you slide off of the side of a neighborhood road and take out the corner of a house (seen several stories like that in the paper or on national news... not often, but sh!t happens). Or more likely, what if you hit a $40k truck carrying a $50k cigarette boat on a trailer, popping the boat off of the trailer? You think the insurance company is going to say "You're only liable for the damage to the truck... you never hit the boat."?

awesomez · 09-21-2009, 11:52 AM

Quote:

Originally Posted by Hi-TecDesigns

Woh, are you in for a big surprise! They'll garnish your wages from now until you die to pay off debt from a lawsuit. Any tax refunds you might be due are automatically gone. Lottery winnings are automatically forfeit up to the amount you owe. Don't think that just because you don't have readily available assets now means you're safe (unless you don't mind living the life of a pauper until you're dead).

I in fact am not in for a big surprise since I am insured with $1 million policy and have my own lawyer. You will be in a big surprise when you sue someone with no money for future money they will never have. You will get stuck with the attorney bill when they leave country for good. Any intelligent person wouldn't sue them in the first place, and any intelligent person would leave the country if the are sued and loose.

kannibul · 09-26-2009, 01:45 PM

Regarding sliding off the road and hitting someone's house

Homeowners insurance takes over the rest. Unlike auto insurance, homeowners insurance portects your own property from damage, not someone else's.

09-26-2009, 01:45 PM	#4 (permalink)
kannibul A True Z Fanatic Join Date: Jun 2009 Location: Jenks, OK Posts: 2,281 Drives: 370z Touring/Sport Rep Power: 268	Regarding sliding off the road and hitting someone's house Homeowners insurance takes over the rest. Unlike auto insurance, homeowners insurance portects your own property from damage, not someone else's. Last edited by kannibul; 09-26-2009 at 01:49 PM.

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