A nice insurance-story (I guess!) Tony, but, for everyone here, who
might have even a modicum of personal assets, over and above
his automobile liability policy limits , he should, tomorrow, contact
his insurance agent/company, and confirm that he has a Persoanl
Liability "Umbrella" added onto his auto policy.
The Umbrella, typically, provides for up to $1million, in total
coverage, but higher limits are available.
Tony is fortunate that the plaintiff's attorney took the 'easy-way' out,
and settled for Tony's $150K policy limits.
I ain't rich, but I've got $250K underlying liability coverage, with a
$1mil Umbrella.
UNFORTUNATELY, altho that policy could pay up to $1mil, to someone/some
people I might hurt, in a crash, those same limits are NOT available to
ME, if some uninsured, or under-insured driver "smacks" me !
In CA (and probably throughout the country), the Limit on un-insured,
and on under-insured coverage, which is available to me, under my own
policy, is tied to my underlying Liability policy limits ($250K, for
me).
SO: don't wear a helmet, if your head is worthless, and don't bother to
get a Liability Umbrella endorsement (it's not expensive) if you have no
persoanl assets that a plaintiff's attorney might want to get a
Judgement against!
Any questions, regarding your own State, and your liability policy's
coverage, go talk to your insurance agent, or company, tomorrow!
Neil Vedder
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