Does My Business Need Umbrella Insurance?

umbrella insurance

If personal umbrella insurance covers personal liability claims against someone and prove to be important, will commercial umbrella insurance for my business prove the same?

Commercial umbrella insurance works similarly to personal umbrellas so that if there are any accidents that happen with your business and your existing insurance plans can’t cover the expenses, the umbrella insurance can step in and help. Umbrella insurance for businesses can act as an extension of insurance where your existing auto and general liability insurance reaches its threshold. An umbrella insurance policy can mean the difference between a business surviving, or not.

So now you may be thinking about the instances where commercial umbrella insurance may help you. Here are some examples that may help you get an idea of the accidents that could happen:

  • Floor cleaning is happening and customer walks over a slippery area and injures themselves. Medical costs may rack up to much more than what your general policy can allow.
  • An employee causes a multi-vehicle accident using a company car. The damages costs of repair and medical costs extend much further than what your existing commercial auto policy can cover.
  • A customer may have difficulty opening a door at the entry of your business because of air pressure and injures themselves by pushing or pulling too hard. Their medical costs were much higher than expected and partially be afforded with an existing insurance plan.

Commercial umbrella insurance can help you from potential catastrophic damage to your business. A point to consider about this insurance is that higher limits may be necessary for businesses with high loss potential, high profile, sizable sales, numerous assets, large auto fleets, worldwide presence, significant public exposure.

Every business is different so please contact us today to find out how commercial umbrella insurance may help you and find how to get the best value on a plan for you.

Avery Hall Insurance Group has Insurance Solutions for Today’s World. Call the location nearest you for a quote today.

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