Commercial Umbrella Insurance – Increased Coverage When You Need It Most
As a responsible business owner, you strive to apply best practices when dealing with customers and employees alike. This includes having the best insurance coverage for possible future claims. For example, if a client slips and falls on company property, they might file a lawsuit that threatens your endeavors. Most of the time, a commercial property or general liability policy can cover things. However, there are times when your existing coverage is not enough. That is when commercial umbrella insurance steps in to fill in any gaps.
Getting the additional protection you’re looking for is not hard to obtain. You can safeguard your enterprise and your reputation with help of an experienced broker from the Nowell Agency. We work with a wide variety of industries and understand the unique needs of each one. We are happy to sit down with you and discuss the strengths and potential weaknesses in your existing policies. Then, we can design a plan to fit your specific goals and requirements.
Understand the Benefits of Commercial Umbrella Insurance
Get the extra support and protection you need to counter the effects of a sizeable judgment when you buy an umbrella policy. Check out these benefits:
- Acts as a Second Line of Defense to Your Existing Coverage. If a claim is made that drains your general liability policy, this can step in to make up any difference.
- Provides Higher Limits. Your existing automobile, general liability, and employer’s policies are only good for a specific amount. Umbrella insurance extends that limit.
- Fills in the Gaps. When your primary policies stop, this will fill potential gaps to give you added protection.
- Even Small Companies Can Enjoy Extra Coverage. Businesses of any size can reap the rewards of having an ace in their pocket. Without it, you may face financial ruin if your existing policies reach their limits.
Possible Liability Risks to Keep in Mind
Before letting one claim deplete your existing insurance policy limits, think of the possible risks you might face:
- A customer slips on a misplaced rug in your facility and falls. The damage is a broken hip and dozens of surgeries.
- While driving the company van to a catering event, an employee causes an accident that damages property and several injuries to others.
- An employee accidentally injures a visiting vendor representative or client.
- Misleading and potentially slanderous advertising leads to massive lawsuits that can cripple your company and push liability limits to the maximum.
Get Extra Protection from an Established Brokerage
Disaster can strike at any time. Failing to have adequate coverage leaves your enterprise in a precarious position. Avoid undue stress. Gain peace of mind when you talk with a knowledgeable broker from the Nowell Agency. For over 30 years, we have helped business owners, entrepreneurs, and self-employed individuals obtain the right insurance plan for their needs. Come in and talk to our team; we will assess the risks you face to design a package for your unique needs.