Umbrella insurance is a crucial form of protection that extends beyond the coverage limits of your existing policies, safeguarding your assets and financial future. At Nickerson Insurance Agency, an Insurance Agency in Connecticut, we want to help you understand the importance and benefits of umbrella insurance for both homeowners and renters.

Umbrella insurance provides liability coverage beyond what your homeowner’s or auto insurance policies can cover. It typically includes:

• Injuries: Protection for bodily injuries caused to others.
• Property Damage: Coverage for damages to others’ properties.
• Certain Lawsuits: It can cover legal costs and damages from specific lawsuits that your primary policies might not cover, such as libel or slander claims.
• Personal Liability Situations: Additional protection for various personal liability incidents that might not be covered by your homeowners or auto policies.

How Does Umbrella Insurance Work?

An umbrella insurance policy functions in two key ways:

1. Exceeding Policy Limits: If your existing insurance policies reach their coverage limits, umbrella insurance provides additional liability coverage to help pay for the remaining amount.

1. Added Coverage for Specific Situations: It covers claims that are not included in your standard liability policies, offering broader protection against unforeseen financial risks.

For Homeowners:

Homeowners often have significant assets at risk, such as their home and savings. Umbrella insurance can shield these assets from potential lawsuits or claims that exceed their primary insurance limits.

For Renters:

Even though renters don’t own their homes, they can still face financial risks due to liability claims arising from accidents or other incidents. Umbrella insurance offers a layer of protection that complements their renters’ insurance policy.

• Financial Protection: Safeguard your assets and savings from potential financial ruin.
• Broader Coverage: Access protection for scenarios not covered by your regular policies.
• Peace of Mind: Enjoy increased peace of mind knowing you have extensive liability coverage.

If you are considering how umbrella insurance can benefit your financial security, consulting with a trusted insurance agency in Connecticut can provide you with tailored advice and comprehensive coverage options.