ORIGINAL: Luchnia
ORIGINAL: Hossfly
If you create such a liability, you won't have the homeowners long, if for no other reason that you won't even have the house. Now, if you can't figure it all out, then maybe you don't need AMA insurance.
This may be true but is it not a very sad truth? What good is insurance in the first place if you are just going to lose it when you file a big claim? This really gets me going.
//snip//
So it should. The man stated he had a $300,000.00 liability policy. Well I have 2 Homeowner's policies, with liability insurance, auto policies with 5 times the state required liability. I also have umbrella liability insurance, and all that may not be enough.
And of course AMA sits on top of those policies.
Heaven forbid such, but if I created some incident that caused some person to become a wheel-chair case for the rest of their life, hurt a young person, resulting in a permanent problem, or the loss of some family's member, all the money I could get for them would not ease my pain for their plight if I caused it, and that is selfish on my part as their life is forever changed/lessened because I was in error. AMA is a cheap price for an aeromodeler to have some $$$ to assist for what could happen to a fellow aeromodeler.
In the post you quote from, and that portion quoted, I tried to illustrate that the guy would lose the house as his liability would far extend to well more than $300,000.00 so all would be gone maybe in a flash.
For you young fellows, in this day and age, $300,000 yankee dollars is not a significant sum, especially in the courts. [sm=greedy.gif]