You can’t predict when something unfortunate will happen in your business. What you can do is prepare for the unexpected in the best way possible. One step you can take to protect yourself and your business from a catastrophic event is through purchasing a commercial umbrella policy.
Some of the most common insurance policies businesses have include:
- general liability insurance, which helps cover claims of bodily or property damage caused by your products, services or employees.
- commercial auto insurance, which helps cover vehicles used by your company or employees
But what happens if you have a claim that reaches the liability limit on an underlying insurance policy? Commercial umbrella insurance, much like a personal umbrella policy, steps in with additional liability protection. Commercial umbrella insurance can act as another layer of protection on top of these insurance policies. It can help cover the costs associated with legal fees, damages and medical expenses.
Umbrella coverage provides extra protection — from devastating multi-million-dollar lawsuits to liability claims, employee auto accidents, and more. And coverage is surprisingly affordable. Every business that plans on remaining solvent and competitive should have an umbrella policy for proactive peace of mind.
This blog post is not offered, and should not be relied on, as insurance advice. You should consult an insurance agent for advice in specific situations.