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I want to know what kind of steps/paperwork I need to do to form a legal auto liability insurance agency. Not sure if it matters, but this agency will be in Texas for Texas drivers.
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Lets say my net worth was $100,000. If my Bodily Injury Liability insurance was $100,000 would that mean I would never have to pay out of pocket if somebody sued me due to a car accident?
Could I be sued for more that I own and still be forced to pay out of pocket? Or can I only be sued for what I have and the auto insurance will pay all of it?
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I am going on vacation in Florida and am renting a car. I have auto collision coverage through my credit card company but want to know if my regular liability insurance covers me while driving a rental too or do I need special insurance?
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