Who Should Consider Umbrella Insurance? Assessing Your Coverage Needs

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.

Why should I get classic car insurance versus a standard plan?

Owning a classic car has been a dream for a lot of people in the Berlin, CT area. If you choose to purchase a classic car, you will be making a unique investment as these vehicles can actually appreciate in value over time. Because of this, a classic car needs a different type of auto coverage. There are various reasons why you should invest in a classic car plan. 

Coverage for Full Value of Car

One of the most important reasons to have a classic car insurance plan is that you can get coverage for the full value of the car. Standard vehicles tend to depreciate in value each year. However, a classic car can actually increase in value. With a standard auto plan, it can be hard to capture this full value. With a classic car insurance policy, you can work with the insurer to come up with a fair coverage amount based on the collectible value. 

Coverage Reflects Liability Risks

Your classic car insurance can also be a good option as it can help reflect your current liability risks. Classic car drivers tend to drive sparingly. However, you still need liability coverage, even if you only drive a few miles per year. With classic car insurance, your plan will price your insurance based on the nominal miles driven. 

Reach Out To Us

Anyone who purchases a classic car in the Berlin, CT area will want to get the right insurance for it. When you are ready to start looking for your next classic insurance plan, it would be a good idea to call our professionals with the Bogden Insurance Agency. There are always a lot of big decisions to make when looking for this coverage, and our team at Bogden Insurance Agency can help ensure you build a plan that properly covers your classic car. 

Will my auto insurance cover the replacement of the transmission in my old car?

Auto insurance provides many beneficial forms of coverage for drivers. From liability coverage for accidents where you’re at fault to protection from unforeseen situations like flooding and theft, car insurance offers many coverage options for drivers. However, car insurance doesn’t cover everything. There are circumstances where auto insurance wouldn’t cover an incident or situation, and you may have to pay out of pocket for these types of situations.

Our team at Bogden Insurance Agency is committed to helping Berlin, CT residents get the coverage they need.

What does auto insurance cover?

Auto insurance provides drivers with a wide variety of different coverage options. Most states require drivers to carry auto liability insurance which covers any property damage or injuries you cause to others while driving. However, this type of coverage will not cover any damage to your car or any personal injuries you sustain in an accident.

Collision coverage covers the damage your car sustains in an accident as well as any personal injuries you may sustain as a result of an accident. Comprehensive coverage covers non-moving accidents. For example, if a tree branch falls on your car, comprehensive coverage will cover the repair or replacement of your car.

Theft, vandalism, and damage from inclement weather conditions are also examples of situations that are covered by comprehensive auto insurance.

Will my auto insurance cover the replacement of the transmission in my old car?

Maybe. If your transmission is damaged as a result of a covered incident or accident, your collision car insurance will cover the repair or replacement of your transmission. However, if your transmission fails on its own due to normal wear and tear, your auto insurance will not cover the repair or replacement of your transmission.

Looking for Insurance in Berlin, CT?

If you have questions about coverage options when it comes to auto insurance, call us at Bogden Insurance Agency. We’d be happy to help you explore your options. 

Does commercial insurance cover ransomware attacks?

Ransomware attacks are becoming more frequent and malicious. Ransomware is malware that encrypts data, rendering it unusable or unreadable until a ransom is paid. These attacks can be extremely damaging, resulting in downtime, loss of data, and damage to a business’s reputation. With the increasing threat of ransomware, Bogden Insurance Agency wants businesses in Berlin, CT to understand their insurance options to mitigate the risks associated with these attacks.

Does commercial insurance cover ransomware attacks?

Some commercial insurance policies offer specific cyber policies that cover cyber risks, such as ransomware attacks. Cyber insurance policies can offer additional coverage, such as data recovery and cyber liability insurance, which covers legal fees and damages resulting from a cyberattack. 

Another type of insurance policy that may cover ransomware attacks is business interruption insurance. This policy covers loss of income and expenses related to a cyberattack interrupting your business operations. This policy can be invaluable in recovering from a ransomware attack, as businesses face the ransom demand and the costs of dealing with the attack, such as data recovery and IT support.

Businesses should ensure that they understand the terms and conditions of their policy and speak with their insurance agent to identify any gaps in coverage. Cybercrime and its associated risks change rapidly; check your coverage at least once a year to ensure your business has the coverage it needs.

We Can Help!

Ransomware attacks can be extremely costly in the short and long term. Berlin, CT businesses need to understand their insurance options to effectively mitigate the risks associated with these attacks. Don’t wait until it’s too late. Take action to protect your business today by contacting Bogden Insurance Agency. This can be confusing, so contact us anytime you have questions.

Tips to prepare your house for a storm

Preparing your home for a big storm here in the Berlin, CT area can feel daunting, but at Bogden Insurance Agency we recommend several steps you can take to get ready. 

Preparing your house for a storm

First, make sure you have enough supplies on hand in case of an emergency. Keep a stocked first aid kit, flashlights, and batteries in easily accessible places. Have three days’ worth of food and water stored away in case the power goes out. Consider investing in a generator if you live in an area where storms are frequent or particularly severe. 

Next, assess any potential risks to your home and take necessary safety precautions. Put up storm shutters or plywood boards on windows to protect against flying debris that could break the glass. Secure outdoor furniture and equipment like grills or patio umbrellas so they don’t become projectiles during strong winds. Make sure trees on your property are trimmed and well-maintained so that limbs don’t fall on your house during a storm. 

Finally, create an emergency plan with family members so everyone knows what to do when a storm is approaching your area. Talk about where everyone will go if their home isn’t safe and make sure everyone knows basic first-aid tips should someone need medical attention during the storm. It’s also important to have important documents like IDs, birth certificates, insurance policies, etc., all stored safely in waterproof containers just in case you need them during evacuation or recovery from storm damage afterward. 

Keep Your Home Insurance Updated

By following these steps, you will be prepared for whatever weather may come your way! For more tips, and to get the right insurance coverage for your needs, give us at Bogden Insurance Agency a call today. We are proud to serve the Berlin, CT area.  

Four things you might not know about renters insurance

Having renters insurance really comes in handy if you experience an accident that leads to damage and expense in your rented home. Those renting in Berlin, CT can count on Bogden Insurance Agency to provide them with the renters insurance coverage that they need.

The following are four things to be aware of that you might not know about renters insurance:

You may be able to use your renters insurance to pay for temporary housing.

There’s nothing more stressful than experiencing damage in your home that’s so severe that you can no longer live there. When this happens, it really helps if you have renters insurance that will cover the costs of temporary housing for you. 

"Replacement cost" policies generally offer you the most financial protection. 

Usually, a renters insurance policy will be a "replacement cost" policy. This means that the policy will reimburse you with enough funds to completely replace destroyed valuables. 

It’s best to opt for a "replacement cost" policy rather than an "actual cash value" policy because actual cash value policies will often offer less coverage. 

Renters insurance can cover you if you get sued due to an accident in your apartment.

Renters can face liability expenses just like homeowners can. Liability expenses can be high, so carrying renters insurance is important to protect your assets. 

You can’t assume that you’ll enjoy coverage through your landlord’s property insurance.

There is a common misconception out there that renters benefit from the property insurance that their landlord carries. However, this is not generally true. 

While your landlord’s property insurance may cover repairs to your rental home, this policy is not likely to cover most of your own expenses in the event of damage to the property. 

Give Us A Call

Shop around and find a renters insurance policy that is appropriate for your rental unit and your needs. If you want to get a quote on a renters insurance policy in Berlin, CT, get in touch with us today at Bogden Insurance Agency. 

How condo insurance compares to home insurance

A condo is a home, but it needs to have specific insurance designed specifically for the condo. While houses and condos have a lot in common, they have very different insurance needs.

At Bogden Insurance Agency, serving the greater Berlin, CT community, we have years of experience. We are an independent insurance agency, and we go the extra mile to make sure our customers get the insurance that they need. 

Benefits of Condo Insurance

When you purchase a condo, there are many benefits. One of them is that you aren’t responsible for the exterior of the building. This extends to insuring the exterior and any common areas. The condo association has a master policy that insures these areas. They have both property and liability coverage. That is a major difference between condo and home insurance. 

Before you purchase your condo insurance, it is important that you know exactly the coverage provided by the master policy. Not every policy is the same. How deep it goes into your unit is different. It can be all in or walls in or something in between. Read your covenant and let your insurance agent know what your coverage is. 

Content coverage for the condo may include things like kitchen cabinets and bathroom fixtures. But your personal items will be covered in the same way that home insurance covers them, with you choosing the type of coverage you prefer. 

Liability coverage will protect you inside your unit. The exterior liability coverage is held by the condo association. 

Additionally, like a home policy, you will have a loss of use coverage. This will help you to pay for another place to stay in the event that your unit becomes so damaged that it can’t be lived in. 

Get in touch with us

Contact Bogden Insurance Agency in Berlin, CT when you need to talk about your condo insurance coverage. 

Is Renters Insurance Required in Connecticut?

Renting a home or apartment is an exciting and often overwhelming experience. One of the most important decisions you can make is understanding the legal requirements for renting in your area. Our team of insurance experts at Bogden Insurance Agency can help guide you through the process by covering all aspects of renters insurance and legal obligations in Berlin, CT. 

What is Renters Insurance? 

Renters insurance is a type of insurance policy that covers losses to personal property or liability caused by fires, theft, vandalism, and other covered losses. It also provides financial protection if someone injures themselves or sues you for damages they incurred while on your property. Generally speaking, renters insurance covers any damage to the personal possessions inside your unit, such as furniture, electronics, clothing, and more. 

Is Renters Insurance Required in Connecticut? 

The short answer is no; renters insurance is not legally required in Berlin, CT. However, it is highly recommended that all renters consider purchasing a policy to protect their belongings from unexpected loss or damage. Your landlord’s insurance typically only covers the structural integrity of the building itself—not your belongings inside it. So without renters insurance, you would be left with nothing should an accident affect your personal items located within the rental unit.                

Do I Need Renters Insurance If I Live With Roommates? 

If you live with roommates, it’s even more important for each tenant to purchase their own renter’s insurance policy. That way, each person can rest assured knowing that their belongings are protected from any potential losses or damages caused by their roommate’s negligence or carelessness. Without separate policies, everyone would be held responsible for accidental damage to another tenant’s items should something happen, like a fire or flood, causing damage throughout the entire unit. 

Give Us A Call

For more information about renter’s coverage, contact Bogden Insurance Agency today!

Three mistakes to avoid when you choose an umbrella insurance policy

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. 

Does classic car insurance cover my car if I drive it every day?

You finally did it. You saved up, did your research, and took the plunge. You bought a classic car! And of course, you want to show it off around Berlin, CT.  Now the question is… how do you insure it?

Do you need a special classic car policy from Bogden Insurance Agency? Can you just use your regular ol’ car insurance? 

Classic Car Coverage

First, let’s start with what classic car insurance is. Classic car insurance is a type of auto insurance that is designed specifically for classic cars. Agreed value and parts replacement coverage generally make classic car insurance more expensive than regular car insurance, but there are limits on how much you can drive it. Classic car insurance is designed for cars you only drive occasionally – not your daily driver.

If you plan on driving your classic car every day, then you’ll likely want to get a standard car insurance policy that will cover your vehicle including collisions and comprehensive coverage. However, if you only plan on driving your classic car occasionally, then a classic car insurance policy might be a better option since it will generally have lower premiums and offer additional coverage options.

Contact Us Today

When insuring your classic car, the best thing to do is talk to Bogden Insurance Agency about what coverage options are available and which one makes the most sense for you based on how often you plan on driving your vehicle around Berlin, CT. We can help answer any other questions you might have and make sure you’re getting the best possible rate on your classic car insurance policy.