insurance if you are rich?

Question

ok i dont know much about insurance, just wondering if you need insurance if you make 4 million dollars per year?

you dont buy that much stuff, just rent an apartment and a car, and thast probaly it, and clothes

Answer 1

For a vehicle, you must have proof of financial responsibility. The most common means of that by far is by taking out an auto insurance policy, but that is not the only means.

It is possible to post a bond with the state in lieu of an insurance policy. You can also deposit securities or cash of sufficient value with the state. It is also possible to "self-insure" in most states. That's normally limited to corporations with a good D&B credit rating though in theory an individual might be able to do that as well.

Whether or not you "need" insurance depends upon how much risk you're willing to take on yourself.

If you are wealthy, you are often seen as a "deep pocket" ripe to be plucked by an increasingly litigious society. Insurance is a good way to shield yourself from such suits. Since an insurance company is required to defend you in any action against you, the cost of the insurance is often less than the attorney's fees to defend yourself.

Answer 2

I might suggest you to try this web page where onel can compare rates from the best companies: http://insurancetocompare.info/index.html?src=3YAfef0Oa2km

RE :Insurance if you are rich?
ok i dont know much about insurance, just wondering if you need insurance if you make 4 million dollars per year?
Update: you dont buy that much stuff, just rent an apartment and a car, and thast probaly it, and clothes
Follow 10 answers

Answer 3

Compare quotes for free at - ASSURECOMPARE.INFO-

RE Insurance if you are rich?

ok i dont know much about insurance, just wondering if you need insurance if you make 4 million dollars per year?

Answer 4

Oh , yes insurance is a juicy business, let me bring some light to this issue; in the USA , liability could go from $350.00 to higher numbers per year.. and in foreign country like Mexico , that insurance to drive legally in the USA is about $120.00us dollars per year (American insurance). same company , different price, same coverage.
enough info to make you angry. well, blame the insurance lobbyist .

Answer 5

Compare insuran ce quotes

Answer 6

you could look into self insuring, dont know anyone who has done it. type it into your browser and there are sites to find more info.

Answer 7

There are several comparison sites but I liked this one to get quotes for free: HELP-INSURE.NET

Answer 8

I would think so. I mean depends on your valuables. Antiques and the like.

Answer 9

Try https://tr.im/vVyEG

Answer 10

if you make that much money then you should know the answer to that question