What is Umbrella Insurance?

Sometimes one general insurance policy is just not enough. In the event that you get sued for an exorbitant amount of money, an umbrella insurance policy could save you from financial ruin. Also known as excess liability insurance, umbrella insurance goes into effect once you have reached your basic liability limit or if the claim is not covered by your personal policy. It will help make up the difference in what you owe, so that you avoid the loss of assets, destroying your business, repossession of home, or declaring bankruptcy. AllConnecticut Insurance in West Hartford, CT can help you figure out whether or not umbrella insurance is something you should be considering.

What Does Umbrella Insurance Cover?

While umbrella insurance is a great option for some who might need additional insurance, it is not a complete catch-all. It will not cover just anything. Here are some examples of what it covers:

  • Lawyers’ fees
  • Other party’s property damage
  • Other party’s medical treatment
  • Lawsuits involving defamation of character or slander

Here are some examples of what umbrella insurance does not cover:

  • Your injuries
  • Criminal acts
  • Damage to your assets
  • Other party’s injuries, for which your business is responsible

Who Needs Umbrella Insurance?

Even though excess liability insurance is not a requirement, there are certain types of people who invest in policy more often than others. Those who commonly purchase umbrella insurance relate to one or more of these factors:

  • Property owners
  • Have substantial savings
  • Likely to be sued
  • Have more assets than covered under the personal liability policy

If it sounds like your circumstances call for excess liability insurance, be sure to reach out to AllConnecticut Insurance in West Hartford, CT. They will be able to assess your situation and give you professional advice on whether or not umbrella insurance is the right choice for you. 

Understanding Insurance for RVs

Recreational Vehicles (RVs) are a combination of a vehicle and a mobile home. To be certain that you have adequate insurance coverage, there are important considerations, which you should discuss with your agent at ALLConnecticut Insurance serving West Hartford, CT and the surrounding areas. You want to have adequate insurance for the RV and you also want to have insurance for its contents.

Insuring Your RV Against Loss from Accidents

Connecticut is an “at-fault” state. This means that the owner of an RV is responsible for the damages caused by an accident that is determined to be their fault. This includes needing liability coverage for property damage and the injuries or deaths of any people involved. In Connecticut, if the vehicle insurance limits do not cover the damage, you can be sued for the additional amount along with additional financial claims for pain and suffering.

Insuring Your RV Against Loss from Theft and Vandalism

Having adequate insurance for the contents of an RV is necessary to protect from the risks of theft and vandalism. This includes having protection if the RV is sometimes put into storage. If you have any high-value items that you take along with you, be sure to tell your insurance agent about them. For example, precious jewelry that is taken along to wear on a vacation trip needs to be itemized for proper insurance coverage.

Insuring Your RV Against Loss from Disasters

There are two types of disasters that you need to consider, which are natural disasters and those made by people. An RV needs to have adequate insurance against both. Floods, high winds, thunderstorms, hail, tornadoes, wildfires, earthquakes, hurricanes, and other natural disasters can impact an RV depending on where it is located. Disasters caused by people, such as accidental fires, need to have protection as well.

Talk with your agent at ALLConnecticut Insurance in West Hartford, CT about these details for adequate RV insurance and ask them about emergency road assistance and special coverage for the cost of alternative accommodations if an RV cannot be occupied if it needs to be repaired while on a trip.

Can You Write Off Commercial Insurance?

When operating a business in West Hartford, CT, you may be surprised to find that insurance, if it is both ordinary and necessary, can be deducted from taxes. An ordinary business expense means that it is accepted and common in your business type or industry. A necessary business expense means that it is appropriate and helpful for your business or industry. It doesn’t actually have to be necessary. Business owners can deduct these necessary and ordinary costs of the insurance policy as a business expense.

Since businesses in Connecticut are required to carry workers compensation, then the required insurance policies will fall under the necessary and ordinary rule and can be written off by the business owner. It’s not just workers compensation insurance that can be written off. Other business insurance policies, such as commercial property, professional liability, general liability, and data breach insurance, can also be written off. Since each business is different, each insurance type does need to meet the common and necessary rule.

There is a difference between personal and business expenses. If you operate a business in your home, you may be able to write off certain expenses that are for the business, such as insurance. This is similar to when you use a car for both personal and business uses; you can only write off the part that is used for business purposes.

Not every insurance policy is considered necessary and ordinary, so the IRS doesn’t consider it a business expense. Premiums that help cover earnings lost due to disability or sickness, or life insurance, aren’t typically covered as a business expense. A self-insurance reserve also isn’t considered a business expense. An agent at ALLConnecticut Insurance can help you determine which insurance your business needs, but it’s best to contact a tax professional to see which policies can be written off.

Contact ALLConnecticut Insurance, serving West Hartford, CT, to get a quote on commercial insurance. 

Home Insurance Changes You Need to Make

Home insurance is something that all home owners need and that many are required to hold in order to satisfy the requirements of their mortgage company. For those that do have home insurance, there are some changes that should be made to their policies yearly to help make sure you are getting the best coverage possible. For those in the West Hartford, CT area, the agents with ALLConnecticut Insurance can help you to find the right policy for you.

The first change that you should be making to your home policy is to update the value of the contents of your home. If you have many contents of you have bought a large number of expensive things, you may want to change the amount of the coverage that you have on your home. This is going to help cover the overall cost of replacing items within your home in the case that they are all destroyed.

Another coverage that should be adjusted is the value of the home itself. If you have done work on your home, have upgraded your home, or if your home has become devalued, it is important to take the time to adjust coverage accordingly so that you get the most accurate coverage possible. Keeping accurate and up to date coverage on your home can mean the difference between a successful recovery should you have severe damage to your home and an unsuccessful one.

You can speak with an agent about how to adjust coverage as needed to help make sure that your home is always fully covered and that you do not need to add more coverage or remove coverage. The coverage on your home is one of the most important things you can keep accurate and it can mean a great deal of difference. For those in the West Hartford, CT area, the agents with ALLConnecticut Insurance can help you find the perfect coverage every time.

 

What Happens If You Hit an Uninsured Driver?

By law, you are required to have auto insurance. Unfortunately, not every driver on the road carries the insurance they are required to have. One of the questions that people ask us at AllConnecticut Insurance is what happens if you hit an uninsured driver in West Hartford, CT. Read on to learn what happens. 

A Police Report Should Be Filed

When you are involved in an accident with a driver who does not have auto insurance, you should always contact the police and have them write a report. It is important to do this regardless of whether you were at fault, they were at fault or it is unknown who is at fault. It is illegal to drive without auto insurance and the authorities should be notified so they can issue the other party a ticket and impound their vehicle. 

Obtain As Much Information as Possible

When you are hit by an uninsured driver, it is important to obtain as much information about them and their car as you can. This includes their name, their driver’s license number, the type of car they have, their license plate number and their phone number. Your insurance company will need all of this information to process the claim. It is also important to take pictures of both cars, to show exactly what the damage was at the accident scene. 

Submit a Claim to Your Insurance Company

Finally, be sure to submit a claim with your insurance company right away. The uninsured driver has a right to file a claim against your insurance if you were at fault, even though they were driving illegally. You want to file a claim so you can let the insurance company know your side of the story and to get damages to your car repaired as well. 

Having the right auto insurance policy in place can protect you if you hit an uninsured driver or if an uninsured driver hits you. Here at ALLConnecticut Insurance, we are committed to helping West Hartford, CT drivers find the best auto insurance policy for them. Give us a call now to get started. 

Beginner’s Guide to Recreational Insurance

Recreational insurance in West Hartford, CT helps provide coverage for your recreational vehicles. No matter what your needs are, ALLConnecticut Insurance is here to help you. These vehicles can include boats and personal watercraft, RV and travel trailers, ATVs and dirt bikes, and snowmobiles.

This type of insurance is usually optional in many instances, but if you are financing your vehicle through a lender you may be required to obtain full coverage insurance. If you are driving your vehicle, you are required to have the state’s minimum liability insurance in order to be out on state roads.

Recreational insurance is going to be similar to auto insurance, since these are vehicles after all. However, there won’t be adequate coverage if you just have a typical auto policy for your RV. For your RV, you are going to want to protect your personal belongings and have coverage for emergency expenses.

Recreational insurance will cover your liability if you get into an accident with someone else on the road, or on the water. If you choose full coverage and opt for comprehensive and collision insurance, then you are covered from other damages to your recreational vehicle. Collision coverage will protect you if your vehicle is damaged by an accident with someone else, no matter who is at fault for the accident. Comprehensive coverage will protect your vehicle if it is damaged by a non-accident cause, or it if is vandalized. Having both these types of coverage will help protect your investment. Medical payment overage will pay for medical expenses if your vehicle is involved in an accident. Another option to consider is storage coverage, which can be useful since these vehicles are meant for recreational use and not full-time use. This can save you money and still provide protection for your vehicle while it is being stored.

Contact ALLConnecticut Insurance, serving West Hartford, CT, to get a quote on recreational insurance to protect your vehicles.

What Does Umbrella Insurance Cover?

Umbrella insurance can add extra coverage options to your insurance package. In West Hartford, CT, umbrella insurance can take the form of various types of additional coverage options. You should consider umbrella coverage from ALLConnecticut Insurance if your current insurance doesn’t cover everything you need.

How Umbrella Insurance Works with Your Regular Insurance

Basic insurance coverage often lacks a number of protections. You may not notice what’s missing until you’re in a situation where you need the extra help. Generally, umbrella insurance helps to extend your coverage limits.

For example, an umbrella policy with additional liability coverage will kick in if you’re in a situation where your normal liability coverage reaches its policy limit. This extra coverage is important since many car accidents can easily hit large damage amounts. The added coverage will protect you from a personal liability lawsuit.

What Types of Umbrella Insurance Coverage Options Exist

Umbrella coverage isn’t just a single thing. It can consist of several options. Some of the more common umbrella insurance policies can include:

  • Personal injury protection
  • Property damage protection
  • Personal liability protection

Your insurance may already cover these things, but umbrella insurance extends them.

Also, umbrella coverage isn’t limited to just these particular extensions. Some umbrella options can cover things your normal insurance doesn’t cover at all. Umbrella insurance can consist of several packages and some very specific options for unique situations.

How to Choose the Right Umbrella Insurance Coverage

Having a good understanding of your insurance needs in West Hartford, CT will put you in a good position to choose the proper umbrella insurance options. Extra insurance is always beneficial. Figuring out how much extra to comfortably add requires the help of a professional insurance service.

At ALLConnecticut Insurance, we offer umbrella insurance and other coverage options to fit your unique needs. To learn more about umbrella insurance, contact us today.

What Changes Can Effect Your Company Insurance Policy?

Keeping your business protected with all of the insurance needed is our goal at ALLConnecticut Insurance. We know that running a company is not static. Changes are inevitable. Those changes can occasionally effect your insurance policy, so if you have made any of these changes to your business it may be time to update your commercial insurance. We serve the community in and around West Hartford, CT with quality insurance services. 

Changes That May Effect Your Commercial Insurance Policy

  • Significant Change in Number of Employees – If you need to hire new employees or perhaps fire one or some it is important to update your policy to reflect the people who are covered appropriately to make sure that you (and they) are fully protected by insurance. 
  • Significant Increase or Decrease in Revenue –  To make sure you are protected to the fullest extent your limits should be increased as your revenue increases so if things go wrong your coverage reflects your needs. This is also true if you revenue decreases. 
  • Change of Location or an Additional Location – Moving your business is not as simple as just moving the insurance policy. Your new location will need to be assessed for risks and your insurance policy may change with the new location or additional location. 

As a rule of thumb, it is a good idea to contact your insurance agent if you make an alteration to your company that is previously unknown on the policy. This will mean any new equipment, employees, etcetera are fully covered if things go awry. Contact us at ALLConnecticut Insurance for more information. We serve West Hartford, CT, and the surrounding areas. 

Do I Need Insurance If My Recreational Vehicle Is Parked Or In Storage?

Most West Hartford, CT recreational vehicle owners understand the need for insurance to cover events that may occur while operating their vehicle during travel and vacations. Accidents, natural events such as fire or theft, and liability all seem like perfect reasons to have coverage when you and your family are on the road. But, what about when your recreational vehicle (RV) is in storage? Do you still need insurance then? 

RV Storage 

RV storage is increasingly popular in recent years, mostly due to the fact that many cities and homeowners associations have restrictions on what types of vehicles property owners can park on their property, as well as the fact that in many areas there’s very little available parking for recreational vehicles. With an RV storage option, you can often protect yourself against fire, storm damage, or theft, while cutting your premiums during the time your RV is not in use. Look for an ALLConnecticut Insurance policy that suspends collision and liability coverage, but keeps comprehensive coverage, and you can save significantly as long as your RV is stored.  

What If My RV Is Parked, But I Live In It? 

Depending on where you live in CT, you may have zoning that allows full-time living in recreational vehicles. Even if you are not hitting the highway, you still need protection! Look for a specialty “Full-Timers” RV coverage package designed especially for those who live in their RVs. They generally provide coverage similar a homeowners policy but are specifically designed by RV experts to meet your unique live-in needs. 

Leased or Financed Vehicles 

If you are purchasing a new or used RV that is leased or financed, you may not have a choice concerning insurance coverage. You are most likely to be required to carry insurance that protects you and your lender from risks of damage to the vehicle even if it is not being driven. Once your RV financing has been paid off, you may be able to lower your insurance premiums. 
 

3 Lesser Known Benefits of Auto Insurance

Although most of us seem to believe we fully understand our auto insurance coverage, odds are, that just isn’t the case. Check out three of the lesser known benefits of purchasing an auto insurance policy.

Vandalism Coverage

Although it doesn’t seem to be a common occurrence, vandalism can be a very costly matter to contend with. However, by purchasing a premium auto insurance policy, you can ensure that your car is covered even in the event that you are the victim of super vandals.

Rodent Repairs

Yet another common occurrence, odds are, you never even considered what you’d do if some rodents decided to say, chew through some wiring in your car, until after it happened. Luckily, by purchasing a premium policy, you can include coverage that protects your vehicle even in the unlikely event that your car is targeted by an angry clan of rodents. 

Legal Representation

Lastly, no matter how good your coverage may be, one bad accident could land you in court. Moreover, they can make it a point to sue you above and beyond what your insurance coverage covers. Luckily, many auto insurance policies will provide you with legal representation to help you get out of paying costly settlements.

Overall, for residents of West Hartford, CT, ALLConnecticut Insurance may be your best bet. Offering an array of personalized packages for drivers and automobiles of all kinds, simply stop by their West Hartford, CT office, call in, or email to speak to one of their highly qualified representatives today. They will help you explore your options and provide you with the quotes you need to make your decision. Contact ALLConnecticut Insurance today!>