Umbrella Insurance in Mystic, CT
Personal umbrella insurance financially prepares you for unexpected, high-stakes situations. It may cover you in scenarios where your standard liability insurance limits fall short. This includes high-cost incidents, such as lawsuits or major accidents, where standard policies may leave you with out-of-pocket expenses.
Why Do I Need Umbrella Insurance? 
Many people think of personal umbrella insurance as something only for the wealthy, but it’s a financial safeguard that benefits individuals from all walks of life. This policy extends beyond typical liability limits and may cover various scenarios. Suppose you’re sued due to an auto accident, property damage or injury on your property. In that case, legal and settlement costs can quickly exceed the limits of standard auto or homeowners insurance. Without an umbrella policy, you’d be responsible for those additional costs, which can impact your savings and financial security.
What Is Covered Under This Policy?
Depending on your policy, umbrella insurance may cover you and your household members against a range of situations, including the following:
- Expenses that exceed your car’s liability insurance limits in case of a major accident
- Legal costs if someone is injured on your property or due to your actions
- Expenses arising from damage to another person’s property caused by you or a household member
- Legal fees associated with claims of defamation, libel or slander
How Often Is Umbrella Insurance Used?
Although it may not be used frequently, umbrella insurance can be crucial in cases involving high liability expenses. Most policyholders won’t need to file claims often, but when they do, it’s usually due to significant events with substantial financial stakes.
Learn More
Explore personal umbrella insurance options with Specialty Coverage Insurance Agency. Contact us today to discuss your coverage needs and discover the many benefits of umbrella insurance.