Liability lawsuit testimony

[Francois D.]

'You need to set up entities to protect you from lawsuit liability' is the general advice.

In my area, liability insurance cost $22 per year for 300k

Somebody needs to explain me, what can happen, which is due to my negligence and cost more than 300k?

Besides the 1 in a million times event which they talk on TV, I would be curious to know how many of you landlords have been in a lawsuit and how much it cost you.

There are thousands of landlords on BP so that should give us a ‘statistically relevant sample’

Thanks for sharing your experiences.

[Leon D.]

Almost any injury/liability issue serious enough to be sued over, in which a jury finds you liable, could easily cost over $300k. Attorney bills, expert witness fees, damages...

If you really think that $300k is so large an amount as to be almost impossible, you're not thinking hard enough.