Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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UPDATED: Sep 15, 2020

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The amount of financial liability coverage you should consider depends upon the nature and extent of your assets. In addition to the value of your home, consider how much your business, personal property and other investments are worth. While there are exemptions as to the amount and type of property subject to a levy in the event of a judgment against you, it is better to have sufficient insurance to protect yourself and all your assets against any potential judgment. Liability limits of $300,000 are common, increased amounts of $1 million are also becoming commonplace.