Umbrella Insurance

The personal umbrella policy is an extra layer of coverage that protects you over and above your personal home, auto, and watercraft policies. If a claim exceeds the highest limits of your current policies, the personal umbrella coverage takes over.

To be eligible for an umbrella policy, you must have certain underlying limits of coverage. Your Bearingstar Insurance agent can help determine if an umbrella policy is right for you and guide you through the eligibility requirements.

How Much to Consider

Although $1 million may appear to be more than enough coverage for most people, the total cost of a liability claim can multiply quickly. Balancing the cost of premium with having adequate protection is an important consideration when discussing an umbrella policy.


Your Asset Protection Estimator

Umbrella insurance protects you above and beyond the limits of your existing policies. In Connecticut, there are complex laws about which assets and portions of your future income are exposed to liability in case you or a family member are found negligent. Certain types of assets and income are exempt from judgments while others are not. To help you determine how much coverage you may need to keep you protected in the event that you have a loss, Bearingstar has created this easy-to-use asset protection estimator. By filling in the values of your key assets and your monthly income in the “Assets” boxes below, you will be able to quickly get an idea of the range of assets you need to protect.

Please note: this on-page calculator is for your use alone. None of the information is stored or sent to anyone.

Current "market value" of your home, minus the balance of any outstanding mortgage(s) &/or home equity loan(s). Any equity in excess of $75,000 is "exposed" and subject to being attached.

Current "market value" of other real estate you own minus any mortgage(s) or loans. Examples include second home(s), rental property, undeveloped land, etc.

Total value of all vehicles you own minus any outstanding loan balance(s). Do not include leased vehicles. The value of any owned vehicles in excess of $3,500 is "exposed" and subject to being attached.

Total "equity" of other vehicles you own, such as RV's, campers, motorcycles, collector cars, etc.

The value of all your household goods & items, excluding jewelry. This includes furniture, appliances, electronics, fine arts, collectibles, etc. Personal property in excess of $2,000 is "exposed" and subject to being attached.

Total value of jewelry except for wedding & engagement rings. Wedding and engagement rings are exempt property from judgments.

Current balance of all your retirement accounts. This includes IRA's, 401(K) savings, SEP IRA's, retirement annuities, etc.

Value of stocks & stock mutual funds not part of your retirement accounts.

Value of treasury, municipal or commercial bonds and bond mutual funds that are not part of your retirement accounts.

Current balance on your checking & savings accounts, CD's, money market funds, cash and non-retirement annuities.

Current cash value of any whole life or universal life policies. Values in excess of $4,000 are “exposed” and subject to being attached.

Total current monthly disposable income ("take-home pay") for you and your spouse. A percentage of this is subject to judgments for up to 20 years. Please include both your current disposable income and the number of the number of years you anticipate continuing to work(maximum of 20 years).

An Exposed Asset Value of more than $300,000 generally indicates the need for additional liability protection. This level of coverage can be provided by either obtaining higher limits of liability coverage on your auto and home insurance policies or by purchasing a personal Umbrella policy, which extends liability coverage beyond the limits of your auto and home policies.

Your Sales Agent or Customer Service Agent can assist you in reviewing your coverage options, along with their associated costs.

Request a Quote

*Future earnings are a projection of your "take-home pay" that could be "garnished" if your other assets are not sufficient to cover financial damages for which you are held responsible. In Connecticut, up to 25% of your "take-home pay" is subject to "wage garnishment" for up to 20 years, creating a substantial potential liability.

Information and use of the interactive estimator are made available to you as self-help tools for your independent use and are not intended to provide insurance advice. We cannot and do not guarantee their applicability or accuracy in regard to your individual circumstances. The coverage you eventually select should be carefully discussed with your agent, and if possible your financial planner or a personal injury attorney.

Your Asset Protection Estimator

The Massachusetts calculator will be available soon. In the meantime, if you have any questions about umbrella coverage in Massachusetts, contact your Bearingstar agent.