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How much liability do I need? 

Total up all your assets below, multiply that number by two and that is the limit you should have on your auto and home policy

Common Types of Assets

Personal assets are items of value owned by an individual that can be used or converted into cash. Here are some common examples:
​
Cash and Cash Equivalents:
  • Cash in hand
  • Checking accounts
  • Savings accounts
  • Money market accounts
Investments:
  • Stocks
  • Bonds
  • Mutual funds
  • Certificates of deposit (CDs)
  • Retirement accounts (e.g., 401(k), IRA)
  • Cryptocurrency
Real Estate:
  • Primary residence
  • Vacation homes
  • Rental properties
  • Land
Personal Property:
  • Vehicles (cars, motorcycles, boats)
  • Jewelry
  • Art and collectibles
  • Furniture
  • Electronics
Business Ownership:
  • Equity in a privately owned business
  • Partnership interests
  • Shares in a family business
Insurance Policies:
  1. Cash value of life insurance policies
Other Assets:
  1. Precious metals (e.g., gold, silver)
  2. Antiques
  3. Intellectual property (e.g., patents, copyrights, trademarks)

Liability Limit Estimator (Michigan)

Enter today's estimated values. We'll total them, multiply by 2×, and round up to the next liability limit.

​These assets contribute to your overall net worth and can be liquidated or leveraged if necessary.