Extra Protection that Keeps You in Business
All business owners must have appropriate business insurance if they want to keep their operation financially secure. A policy portfolio with the right coverage, terms and limits will be the investment that can help you keep your company afloat following any number of harmful accidents.
However, standard insurance coverage only goes so far. Sometimes, you will need an extra layer of protection for certain losses, particularly when it comes to liability lawsuits, which can often be unpredictable. You can get this benefit by buying commercial umbrella insurance.
With the help of Barnette and Coates, you can get a high-quality, personalized umbrella liability policy that will offer you coverage for high claims and exceptional losses. A policy can add benefits to multiple commercial liability policies including general liability, E&O, commercial auto and more.
What Does Commercial Umbrella Insurance Cover?
Liability insurance policies are designed to help you repay others if your negligence harms them. So, if a client gets hurt in your business, then they might sue you for their injury costs, and you might have a legal responsibility to repay them. You can use your liability insurance to do so.
However, a client’s claim might exceed the limit that a standard liability policy will pay. If this is the case, then you might be able to turn to your commercial umbrella insurance for further help. Your plan might pay for excess liability costs arising from:
Accidental falls or slips on your property
A carbon monoxide leak in your building
Allegations of libel, slander or invasion of privacy
One of your products causing injury or illness
A fire in your building that spreads to another property
Violations of employment practices laws
Accidents involving business vehicles that harms others
After a standard liability policy pays up to its limits, you can file against your umbrella plan for outstanding additional costs. In some cases, you can even file against your umbrella plan alone if your standard policy does not cover a certain loss.
How Much Umbrella Coverage is Enough?
You never know how expensive a liability lawsuit might be. That’s why even with high standard liability coverage, you can’t be promised complete coverage for your losses. With an umbrella policy, however, you can receive substantially higher benefits that help you in worst-case scenarios.
Umbrella insurance is very versatile, and a single policy can apply to multiple liability plans in your possession. That’s why at Barnette and Coates, our insurance experts will work to understand the individual needs of your business and find protection that keeps you and your operations secure.
These plans are affordable, effective and easy to get. So, don’t hesitate to protect your business personally and financially with a Commercial Umbrella policy from Barnette and Coates.