Towing capacity vs max cargo weight rating

MFL wrote:

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

I agree a person of wealth with more $$$ to lose will opt for higher limits simply because they become a more lucrative case.
A person of wealth can also afford the increased cost of the higher limits. In the end its all relative. Accident lawyers are always looking for a case that is easy to win. The richer/bigger the jackpot the better.
Exceeding the manufacture's ratings makes the case more enticing to the accident lawyer...which has been my entire point all along.
A wealthy person exceeding their ratings is the Lotto for accident attorneys!
I'm not saying its just, right or fair But unfortunately in civil court that's the way it is!