Koverage Insurance Group Umbrella Insurance
Umbrella insurance in Connecticut gives homeowners and vehicle owners a way to extend their liability coverage beyond the limits of their normal insurance coverage. The Koverage Insurance Group has the umbrella coverage residents in and around Enfield CT can get a lot of value out of.
What Is Umbrella Insurance and How Can It Help?
You can think of umbrella insurance as an add-on to your primary insurance coverage. Your primary coverage comes with an upper limit. If a claim goes beyond that upper limit, it’s usually up to you to figure out how to deal with that extra expense.
For example, if you’re involved in a car accident, your insurance will pay for damages to the other party. However, those damages can easily exceed your policy limits. The insurance company can only pay up to that limit.
With umbrella insurance, you effectively extend your coverage limits. Extra liability coverage will come to your rescue to satisfy the remaining amount.
Why Is Umbrella Insurance an Important Consideration?
You should understand that even a mild accident could come with a hefty price tag. Once again, look at a car accident. A casual fender bender can still lead to expensive vehicle damage, injuries that come with large medical price tags and fees that add up quick.
Umbrella insurance is a way for you to mitigate risks to you and others, protect your assets, and save you from future loss. Someone pressing litigation against you to pay what your insurance company can’t will cause you a financial burden you might never recover from.
How Do You Figure Out If Umbrella Insurance Is Necessary?
Figure out your net worth and compare it to your amount of liability coverage for home, auto, and other things you insure. Now consider how much you can afford to comfortably lose if your insurance coverage can’t fully satisfy a claim.
You can also speak to a Koverage Insurance Group agent to figure out if umbrella insurance is a necessity for you. To learn more about the additional benefits of umbrella insurance in Enfield CT and surrounding areas, contact us today.