Although we all hope not to be involved in a catastrophic
liability claim, in today’s litigious environment
more and more lawsuits are being brought against both large
and small businesses. Every day we hear about large
settlements being awarded. Whether a lawsuit is legitimate
or frivolous, you must still defend yourself against
the allegations. An Umbrella Liability Policy provides
protection over and above your basic business liability
insurance policies (General Liability, Auto Liability,
etc.). Should a devastating loss occur, an Umbrella Liability policy could make the difference between keeping
your business open or closing down.
WHY BUY A BUSINESS UMBRELLA LIABILITY
- Your business would be covered in the event that
a judgment against you exceeds your underlying liability
- Your business’s assets, which could be sold
because of an uncovered judgment, would be protected.
- Your ability to remain profitable in the future,
which could be jeopardized because of an uncovered
judgment, would be protected.
HOW MUCH BUSINESS UMBRELLA COVERAGE
DO YOU NEED?
Questions you should ask yourself when considering
your coverage needs:
- What are your current profits, and how much do
you expect your profits to rise?
- What are the value of your current assets?
- What will the value of your future assets be?
- Do your business operations involve products or
services that put you at greater risk?
Your agent will help you determine the coverage amount
that works best for you.
This description of coverage is
not an insurance contract. Your policy is the contract
that specifies and fully describes your coverage. Conditions
and exclusions will apply. Not all coverage described
is available in all states.