Address coverage gaps with the right commercial umbrella insurance.
If you own a small business, then it is your job to protect your company and all its assets. This is why it’s so important to secure the right insurance protection. Unfortunately, when it comes to protecting against liability issues, standard commercial policies often fall short. To ensure that your business has the comprehensive liability coverage that it needs, you need to secure an umbrella policy. Here’s how you can address coverage gaps with the right commercial umbrella insurance.
- What does commercial umbrella insurance cover?
Commercial umbrella insurance provides excess liability coverage for businesses. When your business faces an extensive liability claim that your standard liability policies cannot cover, 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 policies, 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.
- Do I really need this coverage?
While commercial umbrella insurance is not 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 how you can address coverage gaps with the right commercial umbrella insurance. Do you need help securing the right insurance to protect your business? If so, then contact the experts at Promised Land Insurance Group. Our dedicated team is eager to assist you with all your coverage needs today.