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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Amy J who wrote (48507)	2/16/2006 10:31:43 AM
From: GraceZ	Read Replies (1) \| Respond to of 306849

RE: "With no insurance you could lose your house in a lawsuit." Homeowner insurance has a liability portion. Say you hire someone to work on your roof, that person has no disability insurance or workmen's comp. They fall off your roof, paralyze themselves and then sue you for the long term care they will need for the rest of their lives. The award a jury gives the guy might very well exceed your liquid assets. Even defending yourself might result in huge costs. If you have liability insurance, your insurance company has a legal obligation to defend you regardless of whether or not you should be held liable for the accident.