Here at The Select Insurance Agency, serving the greater Coppell, TX area, we are often asked when umbrella insurance is right for a business. We strongly recommend that every business, including small businesses and large businesses, purchase umbrella insurance. Here is what you need to know about umbrella insurance.
What is Umbrella Insurance?
Umbrella insurance helps to provide additional coverages beyond what regular liability and commercial insurance providers. This helps to protect the financial future of both the business and the business owner. It is a type of insurance that is an add-on to your liability and commercial insurance.
Why Do You Need Umbrella Insurance?
Umbrella insurance extends the coverages you already have in case of a major event. For example, if a client slips and falls in your building, they may sustain major injuries. They can sue you for their medical expenses and pain and suffering. Your commercial insurance policy will kick in and cover up to your coverage limits. But if your coverage limits do not cover the full legal costs, you can be on the hook for the difference, which can financially destroy you and your business. Umbrella insurance is designed to kick in in these situations and provide you with the extra insurance you need for major, unexpected events, such as this. This can help you to keep your business afloat and your financial future stable.
Are you ready to get started on buying an umbrella insurance policy? Then let The Select Insurance Agency, serving the greater Coppell, TX area help you. Give us a call today for a free quote or to get started on your policy today.