I dislike the word cheap, as in cheap liability insurance.  I much prefer the word, “inexpensive”. That’s because the word “cheap” implies… badly made, of shoddy materials, ready to fall apart if you breath upon it too hard.

And when it comes to insurance, you do not want a cut-rate policy that is not going to cover you when you need it. Liability insurance in particular is crucial to have, in as high amounts as you can get. This is because of the litigious society in which we live. Depending on the accident for which you are liable, the lawyers for any claimant will suck you dry. If your liability insurance is for $100,000, for example, that doesn’t matter. The lawyers will not stop at that. They will go after another $100,000 if there’s even the slightest chance that they can squeeze that from you from your kid’s college fund, your wife’s stamp collection, whatever.
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