Regardless of the size or efficiency of your company, every business is at risk of a devastating claim resulting from an unforeseen incident. For instance, imagine you own a retail store or apartment building, and a customer trips over the carpet, suffering a severe head injury.
This could potentially result in liability claims amounting to millions of dollars in medical and other expenses. Would your existing business liability insurance cover the entire amount? Could your business savings or revenue cover any shortfall?
If not, Commercial Umbrella Coverage is essential. This coverage extends beyond the limits of your standard business liability insurance, providing up to $10 million in additional funds to handle such situations.
Small business owners often assume they are safe if they don't have substantial assets. However, a court can seize your current business assets and even assign future earnings to fulfill a judgment against you. Investing in umbrella coverage is a prudent decision, regardless of the size of your business.
Choosing how to allocate your hard-earned money is crucial. However, an unexpected major loss can take this choice away from you. Commercial Umbrella Coverage offers a cost-effective way to protect your business assets.
Do you know if your coverage adequately protects against major catastrophic events? At our Insurance Agency, we can help you assess and enhance your coverage.