Adequate liability insurance, including an umbrella policy, is the best asset protection against car accident liability. In most cases, the injured party’s attorney will settle their claim for an amount within the limits of the defendant’s insurance. The reason is that the plaintiff’s goal is to get the most money for the least amount of effort. They want quick settlements, not protracted litigation. An insurance settlement includes a release of the car driver and owner. The
Do I need asset protection after a car accident in Florida?
Many people first become concerned about asset protection following their involvement in a car accident. In Florida, both the driver and car owner are liable for damages when the driver is at fault in a car accident that injures another person.
What is the best asset protection against car accident liability?
Adequate liability insurance, including an umbrella policy, is the best asset protection against car accident liability. In most cases, the injured party’s attorney will settle their claim for an amount within the limits of the defendant’s insurance. The reason is that the plaintiff’s goal is to get the most money for the least amount of effort.
What is Florida asset protection?
Florida asset protection is a legal process where a debtor structures his or her assets, such as property, cash, businesses, and investments, in such a way that makes it much more difficult for a current or future creditor to collect on those assets.