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.
*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.