What does Suability Factor mean? Read on to discover the definition & meaning of the term Suability Factor - to help you better understand the language used in insurance policies.
The likelihood of a legally liable insured being sued for alleged injuries or damage to a third party. This factor is determined, in part, by the size of the insured's savings account and stock portfolio, the extent of the real estate holdings, the family income, his or her profile in the community, and future income. Individuals with a high suability factor nearly always need a personal umbrella policy with at least a $2 million limit.
We hope the you have a better understanding of the meaning of Suability Factor.