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.
Minimum liability coverage amounts are: $10,000 for property damage; $25,000 for the injury or death of one person; $50,000 for the injury or death of more than one person Proof of insurance. Drivers and owners of motor vehicles are required to show proof of insurance at traffic stops/accidents if requested by law enforcement.