getting sued ?

Discussion in 'Ask An Owner Operator' started by sir duke, May 16, 2013.

  1. sir duke

    sir duke Bobtail Member

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    for all the small carriers who have the minimum liability ins. (100000) what is the chance of getting sued for a accident and the lawyer draining the liability money from the ins. co.and going after your personal assets?
    I plan on running a truck under my own authority but I am very apprehensive to put my trust into a llc. corp.
    any advice would be greatly appreciated thanks
     
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  3. ironpony

    ironpony Road Train Member

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    You end up in a bad wreck, and they will come after you. LLCs or corporations will not shield you or your assets- you're the one behind the wheel.
     
    Roadmedic and truckon Thank this.
  4. rodknocker

    rodknocker Road Train Member

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    Get incorporated when becoming an owner op. It helps in many ways.
     
  5. Driver of the year

    Driver of the year Medium Load Member

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    Alot of people put everything on their wife's or girlfriend's name in case they get involved in an accident or lawsuit. Now I understand what im getting into and I only have sole proprietorship and if Im at fault? I lose everything but I have more than $100,000 in ins. I got $750,000 plus the umbrella cov. with my lease com. Alot of Lease Purchase guys at CRST Malone only have $100,000.
     
  6. Roadmedic

    Roadmedic Road Train Member

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    You waste your time like I do with these threads.
     
    truckon Thanks this.
  7. ironpony

    ironpony Road Train Member

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    No good movies in the truckstop C-store, no Redbox at McD's... haven't got a winning thread to rip someone on. May as well play truckstop lawyer! LOL!!
     
    crb and truckon Thank this.
  8. airforcetoo

    airforcetoo Heavy Load Member

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    Truckstop Lawyer LOL .. is that available for Xbox??
     
  9. ironpony

    ironpony Road Train Member

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    It's a Wii little game... just add money! :biggrin_2559:
     
  10. dannythetrucker

    dannythetrucker Road Train Member

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    minimum liability is 750,000 for commercial carriers, most of us carry 1,000,000. pretty simple for me, if I am at fault for more than that it's a bankruptcy. no way around it.
     
    cetanediesel and volvodriver01 Thank this.
  11. airforcetoo

    airforcetoo Heavy Load Member

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    LOL its just like the arcade days all over again! Man did I spend loads of quarters on those stupid games; at least nowadays you're getting swindled by a legitimate business! My mom was right, should've been a lawyer
     
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