The Ins and Outs of Umbrella Insurance

Life is unextecting at times. It only takes one serious mishap – and the lawsuit that follows – to put you and your family at risk. However, an umbrella insurance policy helps you protect the things that matter most. At ALLConnecticut Insurance Brokers, our insurance professionals can help enhance your protection using a simple but effective umbrella insurance policy.

What is an Umbrella Insurance Policy?

Umbrella insurance is a specific type of add-on policy. It is designed to offer additional liability coverage that exceeds the limits of your existing insurance policy coverage or is not covered by the current policy. For example, it may cover a boat rental, etc.

The Ins and Outs of Umbrella Insurance?

The amount covered by the umbrella policy will vary – typically ranging from $1 to $5 million. The amount of coverage should depend on the value of your assets.

  • Your car or homeowners insurance policy will always be your first line of defense.

For example, you are liable for a car accident in the amount of $2 million. While your auto insurance policy covers the first $500,000, the umbrella policy kicks in to cover the remaining $1.5 million. The incident in question must be covered under the purchased insurance coverage.

  • Umbrella insurance covers various liabilities –
    • Property Damage
    • Bodily Injury
    • Personal Injury, etc.
  • One umbrella policy will usually offer coverage for each family member who resides in your household.  

The Bottom Line

Essentially, an umbrella insurance policy provides excess liability coverage for current policies. You’ll need coverage if you’re at fault for a serious event/incident.

For additional information about a West Hartford, CT umbrella insurance policy, contact the insurance professionals at ALLConnecticut Insurance Brokers at 860-232-7076.