Liability claims can be very expensive. Bodily injury, property damage, and lawsuits add up quick! Your regular business insurance plans for commercial auto, general liability, professional liability among others, are a wise investment. However, if those limits of insurance are exhausted, what happens next? I assure you the claim will not go away. Your business and personal assets may be exposed. Excess and Umbrella policies are there for that extra level of protection.
Benefits of having the right business umbrella or excess policy
These are some of the benefits of investing in the right umbrella policy for your business:
Umbrella and Excess Insurance apply once the limits on your base policy have been exhausted giving you that extra layer of security.
Because an Umbrella or Excess policy only responds once your base limits have been exhausted these policies are much more affordable than you might have thought.
If you have a claim, securing additional limits of insurance is very difficult and costly. If you’re thinking about securing higher limits of insurance, act now.
When you’re aiming to land that big contract, expect contracts requiring higher limits of insurance. An Excess or Umbrella policy might help you land that contract.
Want to know more about umbrella and excess insurance?
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