Thank God I had an LLC!! - Said no one ever!?

[Marcus Auerbach]

In 15 years in the biz I have not met someone who got sued and was saved by having an LLC. Every new investor gets hung up on asset protection and there is an entire industry catering to asset protection. There must be actual cases! Please share your story, if you ever were saved by an LLC - what were the circumstances? What did you get sued for, how much and why did the plaintiff win? Did you have an umbrella insurance?

Or have you heard any good story involving an LLC and how it actually protected someone's assets?