[quote=CafeMoto]thank you Flu. I will look into an umbrella[/quote]

I’m not saying you need to get umbrella. I’m just saying what some people get it for…It’s probably the first step towards asset protection, since for a few hundred a year, it can provide a pretty good shelter for your net worth.

As the saying goes, part of your life you spend on trying to build your net worth. The rest of your life, you spend trying to protect it from all the vultures, lol.

FWIW: some umbrella insurance actually have what’s called I think excess personal liability. That often extends to issues in the 21st century like, being sued for libel or slander on Yelp, if you happen to post a negative review that is construed as a malicious attack against a business owner. Yeah, I know go figure.

If you’re concerned about asset protection, you probably should consult with an attorney that is knowledgeable in this area. Not solicit internet advice. Most of the time, it’s wrong.

All I can say, is out of all the thing you can cheapen out in life, you don’t want to cheapen out on liability insurance, especially if you stand to lose out a lot, especially in CA. I mean, consider this. You are a landlord, and your tenant decides to raise a pit bull without telling you, and the pit bull bites your tenant’s friend while he is visiting. Does it fall under your tenant’s renter’s insurance (which hopefully he has and that you insisted him provide you a copy each year), or does it fall under your rental’s liability insurance, or both? What if the tenant’s friend ends up suing you? You want to pay legal costs alone?