Find out what commercial umbrella insurance can do for you.
Liability claims are among the most serious and costly that a business can face. This is why it’s incredibly important for business owners to secure the right commercial liability policies. Unfortunately, even if you have all the standard commercial liability coverages in place, this still may not be enough to keep your company safe. All forms of insurance are subject to certain limits, and commercial liability policies are no exception. Fortunately, business owners have to ability to address the dangerous coverage gaps in their existing policies by securing commercial umbrella insurance. Here’s what umbrella insurance can do for your business.
- What Is Commercial Umbrella Insurance?
Commercial umbrella insurance provides excess liability coverage for businesses. When your business faces an extensive liability claim that your standard liability policy cannot cover, then your umbrella policy will kick in and offer the coverage that your business needs. To see commercial umbrella insurance at work, imagine that a customer injures themselves while on your business’s property. Chances are that this will turn into a major liability issue for your business. If the cost of the claim exceeds the coverage limits on your standard liability policy, then your umbrella policy will step in. Your umbrella insurance will cover the remaining cost of the claim and ensure that your business’s assets are not compromised.
- Does My Business Really Need This Coverage?
While commercial umbrella insurance isn’t a mandatory coverage, many business owners see it as an essential type of policy to have. This is because investing in a commercial umbrella policy is the best way to fill your business’s liability coverage gaps and get your business the comprehensive insurance protections that it needs to stay safe.
This is what business owners should know about commercial umbrella insurance. Do you have further questions regarding your business’s insurance needs? If so, then contact us at Stromsoe Insurance Agency in Murrieta, California. We are ready to assist you with all your commercial coverage needs today.
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