BellaOnline Forums Money Insurance Home Business Insurance

I run my websites out of my home so I have home business insurance. My boyfriend and I were talking about how much to get. Let's say I get $300,000 worth. If someone sues me, why wouldn't they just sue me for $400,000, say, to make sure they get the full value of my insurance policy and everything else I own too? Does it really protect you if I got say $500,000 instead? Would they now sue me for $600,000? I don't even think that I have $100,000 in additional assets even - I'm just using this as an example

I had a business one time that required a million dollars in insurance for my vehicles. But that wouldn't stop someone from trying to sue me for more. But also doesn't mean they can get it. It's sad but it seems to depend on who has a better lawyer.

It may be best to incorporate or create a small corporation (family and friends as officers) to ensure your personal assets are untouchable.

A business lawyer or the small business administration may shed some better light.

I do have a LLC already - but I imagine there are ways around anything. I wonder if it means I should just go with the minimum insurance and figure it's a basic step but that I am doomed if I get sued, no matter what ...

Yes!! Nice information that you have shared with us.
Thank you very much