Business UmbrellaBusiness Umbrella Insurance can be the one policy that maintains sanity for your businesses in the event that lawsuits, accidents or any unexpected event is placed into the path of your business. These aforementioned items create risk and some unceremonious decision-making when starting and operating a small business. Umbrella policies, which are also known as excess liability insurance provides additional coverage when your business excess its limits on the underlying policy.
If not covered with the right amount of insurance, lawsuits and any accidents at your place of business can quickly drain company capital if not adequately covered. Copeland Insurance Group handles various carriers that can help save your business when and if you find that you need additional insurance to fill the gap.
One of the biggest benefits of having business umbrella insurance is that it offers additional liability coverage beyond that of your general liability policy. If you do not carry the additional insurance, your business could be at risk of operating any further if you are sued. Umbrella coverage extends the limits of your basic general liability policy. It is very affordable and may wind up being the one crucial piece that helps your business.
Your business more than likely has a general liability policy in place. The umbrella business insurance policies protect businesses from exceeding costs of their existing insurance limits. Some incidents include violence at the workplace, workman’s compensation and trademark lawsuits. For example, if your general liability policy covers up to $350,000 in damage and an accident happens that is found to total out at $500,000, an umbrella business insurance policy is will cover the additional $150,000. Once your business liability policy is exhausted, your umbrella insurance policy kicks in and covers the difference.
Our goal at Copeland Insurance Group is to find a carrier that is a perfect fit and is watching your back so you can thrive even in the most challenging times. Most umbrella policies are very affordable but the costs of the coverage are directly related to the amount of coverage that you intend to purchase.
If your company has quite a bit of assets, you probably want to check to make sure your existing coverage is adequate. If your company is small and operates out of your home, you may need to seriously consider looking at obtaining umbrella coverage. Copeland Insurance Group is highly experienced in assessing your needs and helping you figure out if your situation will need to acquire umbrella insurance.
In a world that offers very little guarantees, the umbrella personal insurance policy is one of the nearest policy types to give you complete piece of mind. Call a Copeland Insurance agent today to get yourself protected.