Managing Your Lawsuit Risks

From Insurance for Dummies by Jack Hungelmann

Americans have a love affair with cars, and since Americans own more cars per capita than any country in the world, a good place to begin examining insurance risks is to look at those associated with the ownership, maintenance, and use of our beloved PTU ( personal transportation unit). Unless you walk around with a loaded gun in your pocket, an automobile represents the most dangerous device you own. In one split second, you can experience lawsuits, death, long-term disability, major medical expenses, and major property damage! Pretty scary stuff!

That’s why it is so important to spend time setting up a solid car insurance program which will keep you from suffering heavy financial losses following a serious car accident. Your personal automobile represents the single largest possible source of catastrophic lawsuits and legal judgments against you for major injuries, death, and property damage. Because of that, you need to be especially diligent as to the strategies you adopt to manage this risk.