9 people found this helpful. The commercialization process allowed us all to see that our thousands of man hours had not been spent in vain, and our product would soon be available to the people we created it for. 4 people found this helpful.
But with liability law suits on the rise and attorneys seeking larger awards, the risk is very real. Most home insurance policies cover only liability claims up to $300,000 for personal liability and most automobile policies provide up to $250,000 per person and $500,000 per accident for bodily injury. Amounts for claims covered by property damage are lower, typically around $100,000.
Personal injury protection coverage, or PIP insurance, is no fault insurance that protects you and the occupants of your vehicles when you are involved in an automobile collision. It is typically available in increments of $2,500.00 of coverage. Simmons and Fletcher, P.C., recommends that you carry a minimum of $10,000.00 per person in PIP coverage. Personal Injury Protection vs Health Insurance. Many people who chose not to carry PIP insurance, do so because they believe it is duplicative of other coverage like health insurance. PIP is not the same as health insurance.