03-01-2017, 03:41 PM
The below is why I added an umbrella liability policy on top of my homeowner/auto insurance (of course I had to raise those limits) when my kids started driving.
Mr645 wrote:
We will end up suing the Tile company and owner of the van which will result in a lien against the company and against he owners home. Legal fees will also be greater then the $14k they have to pay and eventually we'll receive the balance when they go to sell the home in the future, or get a judgement to freeze the Tile company assets and bank accounts to pay off the debt. Lawyer is trying to determine assets of the company as it seems to be a small company, 3 employees, 1 van, operating out of a self storage unit.
So employee borrowing the company van may end up costing the owner his house and/or bankrupting the company