Hello everyone - you may be thinking looking at the above image -this is an aftermath of a Jerry Bruckheimer movie set. No, it is the parking lot of this past week's Miami vs. Pats game see the story here.
Someone placed a tabletop grill under a vehicle after a tailgating party and there you go the aftermath. Now, you say who would do such a thing. I think Wow I hope that person has personal liability insurance (located on your home, condo, or renters policy) and an umbrella policy.
See the 11 cars from what I can tell seem to be fairly new vehicles with an average cost of a new vehicle at $42,380 and the average cost of a used vehicle at $27,000.00 multiply that by 11 you have at least $466k+ worth of damages that is just the burned vehicles. We have not included other damages as well think smoke damage to other vehicles parked near the fire. Also, keep in mind one may sue for lost wages because they could not work because they did not have their vehicle. Also, they can seek damages to personal property and rental vehicles the other parties will have to use to get around as well.
Also, there would be tow and storage fees to be assessed as well - the bill just keeps building up for this person. You may say that this is a once-in-a-lifetime occurrence, you would be correct but it could bankrupt a person for the rest of their lives. Once the other parties' insurance companies pay for their damages and complete their investigation, they will go after the individual responsible.
So I just want to make it clear to check your home, condo, and renters policy to see if liability coverage is in order if you have any questions regarding your current liability coverage click here.
Once you review this information you will need to obtain an umbrella policy to protect your assets. But you say Walter I do not have any assets - I would correct you to say you do have assets - your income is your primary asset. A judge can order a plaintiff a percentage of your check until the settlement is paid. I hear it all the time I do not have anything they can sue me all they want- "Who wants to be sued" also this follows you for the rest of your life and has so many negative financial consequences as well.
I hope this helps someone - click here to schedule an appointment with me regarding your home, condo, and renters policy if you have questions or concerns.
Have a Great Day all I hope this was informative to you all!
Be on the lookout for more valuable content soon!