Trust or not to Trust

When full timing in an RV you really need to talk to your insurance folks and make adjustments to your policy. We found that some companies don't even offer a "full timers" type of package.

IMHO if you are worried about any type of liability issues at work then address that accordingly. If you are working on buildings and the possibility exists that something you do could cause that type of water damage, then you need to have the proper extended coverage.

Like others have mentioned, it really doesn't have anything to do with starting to full time in your RV. I know Florida has some extra protection as far as your home goes but you can still be sued and lose everything else and all future earnings in the right situation.

Old-Biscuit wrote:
I don't understand what retiring in 2 yrs and living FT in an RV now has to do with it ???

Aren't you ALREADY covered.........wouldn't your current assets be in jeopardy if sued cause you messed up on the job :H

Living FT in an RV doesn't increase/decrease that liability

Yes I am covered however my home is hoesteaded and as such it can't be taken away because of a debt to any one other than my mortgage company

I don't understand what retiring in 2 yrs and living FT in an RV now has to do with it ???

Aren't you ALREADY covered.........wouldn't your current assets be in jeopardy if sued cause you messed up on the job :H

Living FT in an RV doesn't increase/decrease that liability

There sure is a lot of wrong information on public forums!!!

sflabrkr wrote:
Here's my problem, I'm an A/C tech and we're retiring in about 2 years.
If I'm working on your 10th floor condo and I break a water pipe you could have $50,000,000 in damage till I shut it off.
I only carry $1,000,000 insurance.
I would not want to lose my home also.

I am certainly no authority on this issue but I had some of your same concerns being a driver at 80 years old and more apt to do something dumb that I might have 20 years earlier. I took out an umbrella policy with my auto insurance carrier. It is quite reasonable and covers all family members for 1 million dollars.

I did some will/probate work myself. Then when the person passed it cost me an extra 12~13K dollars because of mistakes.
Practicing law is not a DIY project. Dont do it - pay a lawyer.

sflabrkr wrote:
Here's my problem, I'm an A/C tech and we're retiring in about 2 years.
If I'm working on your 10th floor condo and I break a water pipe you could have $50,000,000 in damage till I shut it off.
I only carry $1,000,000 insurance.
I would not want to lose my home also.

Operate your business as an LLC and not as a sole proprietorship. LLC=limited liability company. This creates an extra layer of protection because a suite against the company is limited to the assets of the company. Typically, someone suing your company will also sue you, but they have the burden of proof to show that you as an individual are liable and not the LLC. That usually means criminally liable or grossly negligent. The LLC creates an extra hurdle for them to get to your personal assets. You have to operate the LLC correctly for that barrier to exist (separate accounting, checking accounts, properly handling your LLC paperwork each year, etc).

Another layer of protection would be to add a personal umbrella insurance policy that would assist if you got sued individually.

DutchmenSport wrote:

sflabrkr wrote:
Here's my problem, I'm an A/C tech and we're retiring in about 2 years.
If I'm working on your 10th floor condo and I break a water pipe you could have $50,000,000 in damage till I shut it off.
I only carry $1,000,000 insurance.
I would not want to lose my home also.

Real life is, anyone can sue for anything. You can't stop that.
Real life is, with a good lawyer and enough money, you can get out of almost anything.

If you are "bonded", doesn't that protect you being personally sued?... well, there again, anyone can sue, but if "bonded" they can't get very far against you personally. Are you "bonded" against such events?

No, I'm insured with liability insurance

sflabrkr wrote:
Here's my problem, I'm an A/C tech and we're retiring in about 2 years.
If I'm working on your 10th floor condo and I break a water pipe you could have $50,000,000 in damage till I shut it off.
I only carry $1,000,000 insurance.
I would not want to lose my home also.

Real life is, anyone can sue for anything. You can't stop that.
Real life is, with a good lawyer and enough money, you can get out of almost anything.

If you are "bonded", doesn't that protect you being personally sued?... well, there again, anyone can sue, but if "bonded" they can't get very far against you personally. Are you "bonded" against such events?

Here's my problem, I'm an A/C tech and we're retiring in about 2 years.
If I'm working on your 10th floor condo and I break a water pipe you could have $50,000,000 in damage till I shut it off.
I only carry $1,000,000 insurance.
I would not want to lose my home also.