9 people found this helpful. The commercialization process allowed us all to see that our thousands of man hours had not been spent in vain, and our product would soon be available to the people we created it for. 4 people found this helpful.
But with liability law suits on the rise and attorneys seeking larger awards, the risk is very real. Most home insurance policies cover only liability claims up to $300,000 for personal liability and most automobile policies provide up to $250,000 per person and $500,000 per accident for bodily injury. Amounts for claims covered by property damage are lower, typically around $100,000.
Auto liability limits are generally split into three numbers, such as 25/50/10, which is the minimum allowed by law in many states. These numbers represent thousands of dollars, so in this example the first number is $25,000. The first two numbers are for bodily injury.