Why Your Business Needs Umbrella Insurance
Commercial umbrella insurance can offer your business the comprehensive liability insurance that it needs.
If you run a small business, you probably already have standard liability coverages in place. However, these standard policies might have dangerous gaps in their coverage. The best way to fill these gaps is with the coverage offered by commercial umbrella insurance. Here’s what you need to know about this type of commercial insurance.
What Does It Cover?
Commercial umbrella insurance provides excess liability coverage for your business. If your business faces a particularly extensive claim that exceeds the limits of your other liability policies, then umbrella insurance will step in and fill this gap. To see commercial umbrella insurance at work, imagine that a customer injured himself or herself while on your business’s property. This would likely turn into a major liability issue for your business. If the cost of the claim exceeded the coverage limits on your standard liability policies, your umbrella coverage would kick in and cover the remaining cost of the claim.
Do I Really Need It?
While commercial umbrella insurance is not a mandatory type of coverage, many business owners consider it an essential policy for their companies. Because commercial umbrella insurance is the best way to address gaps in liability coverage and get your business the comprehensive liability coverage that it deserves, you should really consider investing in this type of insurance for your business.
This is why your business needs commercial umbrella insurance. Do you need assistance with getting your business the commercial coverages that it needs? Then contact the experts at Club Agency Insurance Brokerage in Garden City, New York. Our dedicated team is ready to find the right policies to meet your needs.