For instance, what if your newly licensed child is driving the family car and slides on an icy highway, causing a chain collision damaging several cars and injuring a dozen drivers and their passengers? Or what if, as a volunteer, you’re driving members of your daughter’s gymnastics team to a competition and you have an accident because you were distracted?
If you don’t have enough primary coverage, any shortage may have to come out of your personal assets if you don’t have what’s called umbrella insurance. Such a policy offers exactly the type of coverage it sounds like it would; it provides an umbrella of added liability protection for you to stand under.
Basically, a Connecticut umbrella insurance policy can protect you from liability issues that extend beyond the liability limits of standard auto, home, RV, boat or personal liability insurance policies. If a claim exceeds the liability coverage limits on one of these underlying policies, as they’re called, you’re protected.
Umbrella insurance policies provide additional coverage for bodily injury and property damage your regular policies offer, and also extend to things not regularly covered. This added coverage may extend to handling related expenses, also on an excess basis, such as the cost of providing a court defense. In short, umbrella insurance kicks in when covered situations present themselves and/or you exceed the amount of liability coverage for the things already allowed under your regular insurance policies.
Is a Connecticut umbrella insurance policy right for you? Consider what would happen to you and the assets you’ve worked hard to build up if you’re sued for something that happens at your home and the costs of the lawsuit greatly exceed the liability coverage defined by your homeowner’s policy? Who picks up the tab if you’re responsible for a multi-car accident and, again, your liability costs exceed the limits on your car insurance by thousands or tens of thousands of dollars?
These kinds of occurrences may be few and far between. But one can never be too careful. We’ve found that Connecticut umbrella insurance policies are typically purchased at a low cost, but they provide enough coverage to where you shouldn’t have to worry about your potential liability costs going forward.
Different umbrella policies cover different things. And premiums vary by company and according to different factors, such as the amount of underlying limits, the number of insured properties, the number of vehicles and more.
Only a careful evaluation of the actual policy wording reveals the extent of the additional protection. So it makes sense to talk with one of the professionals on our Paradiso Insurance team to find out what’s what. We have access to a number of great insurance companies and can help you choose the protection that’s right for you. Contact us today for more information on umbrella policies and to get a free quote.
Paradiso Insurance knows that your antique or collector car is an important element of your personal achievement of The American Dream. We can help protect the car of your dreams.
The saying is true: Home is where the heart is. It’s also true that home is where accidents happen. Paradiso Insurance professionals are ready to help you protect your home.
The professionals at Paradiso Insurance are well versed in all aspects of life insurance and we’re ready to help you research options and weigh the pros and cons of each.