Bogden Insurance Agency wants to help you understand the advantages of obtaining umbrella insurance for both personal and commercial use in Berlin, CT. Purchasing an umbrella policy provides liability coverage that can prevent you from paying a settlement out of pocket. This financial security blanket becomes increasingly important as you age because financial stability is critical with less time to recover monetarily from a liability claim paid out of pocket.

The Consequences of No Umbrella Coverage

Without umbrella coverage, an accident occurring when you’re 30, causing liability, may force you to exhaust your retirement fund, investment portfolio, or savings account to pay the settlement. Based on NerdWallet’s data, a person aged 35 typically has retirement savings of $49,130. Even if you decimate the account, if you retire at age 70, you could replenish it by investing just $102.35 per month on top of your usual monthly deposit.

Now, consider a liability-causing accident happening when you’re 60, without umbrella coverage. At this age, the average retirement fund contains about $537,560, as per NerdWallet. With only ten years left to reimburse yourself before retirement, you’ll need to add roughly $409.41 monthly, on top of your regular deposits, to repay your account.

How Umbrella Insurance Can Help

The same scenario featuring umbrella coverage plays out very differently. You pay a few dollars per month for a $1 million umbrella policy. If a liability-causing accident happens, the policy pays the settlement after your primary policy reaches its maximum. Your retirement fund, investments, and savings remain intact.

At Bogden Insurance Agency, we strive for a secure outcome for our neighbors in Berlin, CT. We can help protect your financial security with an umbrella policy. It can complement your auto insurance, home coverage, and any other primary policy with our agency. It’s worth reaching out today to secure your future.

Securing Additional Protection with Bogden Insurance Agency

Selecting the right insurance policy is crucial to safeguarding what truly matters to you. An effective way of achieving this level of protection is through an umbrella policy. For those in Berlin, CT searching for this type of coverage, Bogden Insurance Agency is here to help. We understand the value of additional coverage to protect against claims and loss. Collaborating with our agents offers an easy and convenient avenue to secure quality coverage and enjoy improved peace of mind.

Exploring Insurance Options with Bogden Insurance Agency

At Bogden Insurance Agency, our emphasis lies in providing you with quotes from diverse insurers, thus enabling you to make informed decisions that best suit your individual requirements. Our agents play a pivotal role in ensuring that you feel comfortable with the insurance policies you own and provide continuous support when choosing them. Connecting with us simplifies your search for the right policy, as opposed to trying on your own.

Why You Need Umbrella Coverage

It is a common misconception that umbrella coverage benefits only those with substantial assets. However, practically everyone can profit from this vital protection. This policy comes into effect where other policies reach their limit, thus designed to extend your insurance coverage. For instance, if you face an auto or home insurance claim that exceeds your policy limits, the umbrella coverage steps in, offering robust coverage.

Reach Out to Bogden Insurance Agency Today

For those in the Berlin, CT area seeking an umbrella insurance policy, contact us today at Bogden Insurance Agency. Our insurance agents are devoted to offering the protection and support you need and deserve, equipping you with the confidence to handle any claims. We are here to help you leave your insurance worries behind, allowing you to enjoy moments with friends and family in the present.

Umbrella insurance is an additional layer of coverage that can provide protection beyond your standard insurance policies in Berlin, CT. It can protect you against unexpected events, such as a lawsuit or a car accident where you are at fault. Bogden Insurance Agency explains who should consider umbrella insurance and how to determine your coverage needs.

What is umbrella insurance?

Umbrella or personal liability insurance is an extra liability policy that can help protect you and your assets from catastrophic losses. This policy comes into play when your standard insurance policy reaches its coverage limits. For example, if you were sued and your home insurance only covers up to $300,000, and your damages were $500,000, umbrella insurance can help cover the additional $200,000.

Who should consider umbrella insurance?

If you have assets at risk in a lawsuit, you should consider purchasing umbrella insurance. Individuals with a high net worth or significant assets, such as property, investments, or businesses, should consider umbrella insurance. Additionally, if you have a high-risk job, like a doctor or a lawyer, or engage in activities that could increase your risk, such as owning a pool or renting out your property, umbrella insurance can provide additional protection in case of an accident.

How to assess your coverage needs?

You should evaluate your assets and potential risks to determine your coverage needs. First, assess the value of your assets, including your home, cars, investments, and other properties. If the value of your assets exceeds the coverage limits of your standard insurance policies, you might need umbrella insurance.

Reach Out To Us

Umbrella insurance can provide extensive protection and peace of mind to those who face significant risks around Berlin, CT.  To purchase umbrella insurance, contact Bogden Insurance Agency to get started.

Umbrella insurance is essential for those who want to enjoy complete financial protection. Bogden Insurance Agency is an insurance provider offering umbrella insurance to consumers in Berlin, CT. 

Consumers need to be well informed and avoid mistakes that could cost them in the future when they choose umbrella insurance.

The following are three mistakes to avoid when you choose an umbrella insurance policy:

Purchasing the wrong amount of coverage

Consumers should be careful not to purchase too much or too little umbrella insurance coverage. It’s not necessary to purchase coverage beyond the value of one’s net worth. However, consumers should make sure that they purchase enough coverage to cover the full value of their assets. 

Not getting quotes from a few providers

As with any other type of insurance, it’s important to get quotes from numerous insurance companies when choosing an umbrella insurance policy. Insurance providers should be readily willing to give out free quotes on umbrella insurance policies. 

Misunderstanding the coverage you purchase

Some consumers don’t fully understand umbrella insurance coverage when they purchase a policy. Consumers need to realize that umbrella insurance is a type of insurance that only protects them against liability expenses. 

While umbrella insurance coverage protects the assets a customer owns if they face a lawsuit, policyholders won’t typically be able to file a claim to cover the costs of damage to their own property. 

Contact Us Today

At Bogden Insurance Agency, we’re devoted to meeting the insurance needs of consumers in Berlin, CT. When you’re ready to get a quote on an umbrella insurance policy, get in touch with us. We’ll be happy to come to your assistance and provide you with the information you need and a quote on a policy that’s appropriate for your unique situation. 

Umbrella insurance is an excellent option if you’re looking for extra protection in Berlin, CT. Umbrella insurance can help protect you from lawsuits and other financial damages. These policies are typically very affordable, and they can give you peace of mind in knowing that you’re covered.

They aren’t stand-alone policies, however. You’ll need to have other insurance policies first, such as auto or homeowner’s insurance. Here’s how umbrella insurance can add an extra layer of protection for your family.

A representative from the Bogden Insurance Agency can help you understand your options and find the right policy for your needs.

How Umbrella Insurance Adds Extra Protection

Financial Protection

Umbrella insurance can help protect you from financial damages if you’re sued. If you’re found liable for damages, your umbrella policy can help pay your legal fees and any other monetary damages. An example of this might be if you’re involved in a car accident and are sued by the other driver. This protection can give you peace of mind knowing that you’re protected financially.

Asset Protection

Umbrella insurance can also help protect your assets. If you’re sued and found liable for damages, your umbrella policy can help pay for the damages. For example, if someone’s injured on your property, your umbrella policy can help pay for their medical bills. This protection can help you keep your assets safe in a lawsuit.

Umbrella insurance is a great way to add extra protection for your family. If you’re looking for additional security, consider umbrella insurance. Umbrella insurance can help protect you from financial damages and lawsuits. Contact Bogden Insurance Agency in Berlin, CT today to learn more about umbrella insurance. We’re here to help you find the right coverage for your needs.

Just like an umbrella protects you from rain, umbrella insurance can rescue you during rainy days. You may have car, auto and home insurance, but these coverages can only do so much when faced with significant liability claims. Unfortunately, when your typical liabilities run out, your personal assets are usually at stake. Luckily, investing in umbrella insurance from Bogden Insurance Agency in Berlin, CT offers you extra liability protection. The other benefits include:

Protects your assets

Given the ubiquitous nature of lawsuits, umbrella insurance protects your assets and future income when sued. Imagine someone coming to claim your hard-earned assets? It can be frustrating and dispiriting. For this reason, you need umbrella insurance to protect your assets when faced with significant liability claims.  

Provides broader coverage

Umbrella insurance not only gives you high coverage but also gives you broader coverage. What does this mean? Umbrella insurance cushions you against liabilities that aren’t covered by other conventional liability coverages. For instance, umbrella insurance covers libel, slander, false arrest, and malicious prosecution — liabilities not covered by other insurance policies.

Additionally, umbrella insurance doesn’t have geographical limitations. It can cover you beyond America as long as your policy is up-to-date.

It’s affordable

Umbrella insurance gives high liability coverage, but it’s surprisingly affordable. Since it rides on other existing coverages, this makes umbrella insurance more affordable than you think.

Peace of mind

When you have umbrella insurance, you don’t have to spend sleepless nights thinking of who is coming for your assets. With umbrella insurance, you don’t have to worry because it protects your assets and future.

Buy umbrella insurance in Berlin, CT

Ready to enjoy the benefits of umbrella insurance? Why don’t you get in touch with Bogden Insurance Agency? We understand how valuable your assets are, and that’s why we provide comprehensive umbrella insurance to protect what matters to you most.

Liability coverage is one of the most important types of coverage. You could find yourself liable for an accident or other incident that ends up injuring someone or damaging their property. Without adequate liability coverage, you would have to pay all of those bills by yourself. If you are interested in getting more liability coverage, call us today at Bogden Insurance Agency in Berlin, CT. 

Adding to Your Liability Insurance

Auto and home insurance policies usually come with some coverage for liability. In auto insurance, it is usually mandated by the state that you must have a certain minimum amount of liability coverage. However, many people only get this minimum amount of liability coverage, and they have just a small amount on their home insurance as well. An umbrella insurance policy adds to the liability coverage of both of these policies. It adds a layer of liability protection right on top of the other policies to make it far less likely that you would have an overage to pay. 

Umbrella Policies

When an accident does occur, the home or auto insurance, whichever covers it, will go to work to pay for the incoming bills from your liability. When this insurance reaches its max and won’t pay anymore, your umbrella policy swoops in to pay the overage up to a much higher maximum. This allows you to be financially saved from going bankrupt to pay the high bills coming in. It can save your future financial life and keep you in a much better position. 

Get Your Umbrella Policy

If you don’t have much in the way of liability coverage, it’s time to change that. Call us at Bogden Insurance Agency in Berlin, CT to talk to an agent about umbrella coverage.