Connecticut personal umbrella insurance is a safeguard that protects you from incurring unexpected expenses as the result of an accident. And while this sounds like the pitch for the auto and homeowners insurance policies that you already have, it’s actually a bit different.
What Does Connecticut Personal Umbrella Insurance Cover?
Consider, for a moment, that you are involved in an auto accident that incurs $500,000 in damages and you’re the responsible party. Your auto insurance policy covers you up to $250,000, but after that, you’re on your own to come up with the remainder. Now you’re out a quarter of a million dollars and your personal assets are at risk.
A personal umbrella insurance policy fills in the gap to protect you and the assets that you’ve worked so hard to secure. It kicks in to cover the expenses that extend above and beyond those which your existing auto or homeowners insurance policies cover.
Who needs Personal Umbrella Insurance?
Personal umbrella insurance is valuable for many insurance customers, particularly those with the following circumstances:
– A job that requires extensive driving, increasing their risk of an automobile accident.
– Dangerous items in the home, including a swimming pool, trampoline or firearm.
– Pets, particularly dogs that may be categorized as aggressive.
In addition to these factors, you should also consider your own personal net worth, how much liability coverage your existing policies insure and the likelihood that you may be sued. Understanding whether your assets – and what assets – may be on the line somewhere down the road can help you to decide whether personal umbrella insurance is a good buy. Both individuals and families can benefit from personal umbrella insurance.
Personal Umbrella Insurance Just Makes Sense:
You may be wondering whether a personal umbrella policy is worthwhile when you could just as easily increase the coverage offered by your existing insurance policies. While that is a valid option, it’s not one that will save you money or frustration.
What makes a personal umbrella policy unique is that it covers the gaps, wherever they may come up. You can’t plan for an accident, and your umbrella insurance is there to cover those areas. All you have to do is pay into one plan that offers you upward of $1 million, rather than increasing the coverage of the policies you think might be impacted at some point down the line.
Do You Need Connecticut Personal Umbrella Insurance?
Residents of the state of Connecticut, in particular, can benefit greatly from personal umbrella insurance. The net worth of Connecticut residents is the among the highest in the country, meaning that your valuable assets are on the line in the event of an accident.
Avoid a devastating lawsuit and protect your hard-earned assets in the event of an unforeseen incident. Contact Waitte’s Insurance Agency at (860) 886-1961 to learn more about if Connecticut Personal Umbrella Insurance is right for you.
What’s Personal Umbrella Insurance? Personal umbrella insurance is for people who would like to add extra liability coverage over and above another insurance policy. Usually, people get personal umbrella insurance for their auto and homeowners insurance.