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.
Most states have a minimum bodily injury liability coverage requirement of $20,000 to $25,000 per person and $40,000 to $50,000 per accident, says Bob Passmore, senior director of personal insurance lines for the Property Casualty Insurers Association of America.hen determining how much insurance you need, start by investigating the insurance that you must have. Every state, with the exception of New Hampshire, requires a vehicle owner to carry auto liability insurance.