Expert: Charles W. Field - 10/28/2005

Question
Mr. Field,
I am currently a medical student.  One of my family members says that I should carry a high level of car insurance because if I am ever in a car accident, I could be sued for my *future* earning potential as well as current assets.  Does this sound accurate to you?  Please clarify.  I do not yet know much about either insurance or litigation...
Thank you
David

Answer
If you caused a wreck that resulted in serious injury or death, you could be sued for big bucks. Even though your current income is probably low right now, any judgment obtained against you can be collected down the road when your income increases. Discuss this with a reputable insurance agent in your area. I recently raised my liability coverage to the maximum I could get and the cost was not very much.