Towing capacity vs max cargo weight rating

Lantley wrote:

MFL wrote:
I try and stay away from the lawsuit conversations and what ifs to follow. The thing I will add is, a person with many assets, and no, or little debt, will always be a candidate for a lawsuit. An injured party, and their lawyer will not waste their time on the average person, that already owes way more than they are worth. Can't say never, but very unlikely.

There are more people out there, driving with no liability insurance, than you responsible members here can imagine. The reason is, they have nothing to lose, other than their license, if they have one, and worst case, a short jail time.

Jerry

It's not personnel wealth that lawyers are after. Lawyers seek a viable/active insurance policy. The average person is not wealthy that's why we refer to the wealthy as 1%'ers. However the average person that owns a vehicle has an insurance policy, which is all the lawyers need to make a suit worthwhile. Commercial vehicles are even more enticing because they have higher liability limits.
Commercial vehicles are also less likely to have their policies lapse.
I agree a person with little money and no policy has nothing to lose, however business models are generally not built around that persons finances.

I think my meaning was missed, as to civil suits. I should have said any civil suit, not just pertaining to auto insurance claims. However, having auto liability insurance is a must, in most cases. How much, does depend on your personal wealth (ability to pay, over and above your insurance you currently have).

In my state, a minimum of only 50K liability is required on a personal motor vehicle. In my state, I have the option of posting a bond of this amount, that will be held by the state, until I choose to purchase insurance. This to me, seems foolish for anyone to do. If you have 50K that you can leave sit in the state capitol indefinitely, you have much more to lose in a civil injury suit.

For this reason, some are fine with minimum coverage, as they have little for anyone to go after, to collect further damages. Our insurance agent, helps us decide what we need. It may be 100K, for one person, but 500K for the next. In todays world a million dollar liability is common, even on a personal use vehicle.

This the reason, that personal wealth matters, in most any suit!

My .02

Jerry