Calculating Personal Liability Coverage
In glancing over the liability coverage thread posted a few days ago it looks like for the most part folks carry 1 ,2 or 3 million in coverage. Just curious how one calculates how much coverage to carry.
I used to carry it but dropped it as I didn't see the value of it. I view most insurance like paying the Mafia protection money.
If I carry $10 million in liability and lose a $20 million dollar judgement, what good was my coverage. Is it really just a false sense security that makes one sleep better at night ?
Educate me and what am I missing ?
Normal is an illusion...what is normal for the spider is chaos for the fly.