Thursday, June 21, 2012

If you auto liability insurance is equal to your net worth would you ever need to pay out of pocket if sued?

Lets say my net worth was $100,000. If my Bodily Injury Liability insurance was $100,000 would that mean I would never have to pay out of pocket if somebody sued me due to a car accident? Could I be sued for more that I own and still be forced to pay out of pocket? Or can I only be sued for what I have and the auto insurance will pay all of it?

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