Although standard liability coverage provided by your business auto liability policy and general liability coverage will get the job done most of the time, the few times when it doesn’t may cause serious financial harm to your business. Umbrella liability insurance is there to pick up the slack when your existing coverage doesn’t cover all of your expenses.
For example, if you are sued and are required to pay $1.5 million in damage – but your current liability insurance only covers $1 million – your insurance would just be covering two thirds of what you need to pay. That last $500 thousand could be crippling to your business. With an umbrella policy, however, you can save your business from needing to pay any of that settlement.
The amount of coverage you elect to purchase in your umbrella policy is up to you. It is important, however, to work with insurance agents – like the ones at. Jordan Insurance Agency – who have experience helping business owners choosing the right amount of coverage. Since we work for you instead of the insurance company, we look out for your best interests, making sure that you get the right amount of coverage at the best price.
To learn more about your commercial umbrella liability insurance options, contact our Weymouth, Massachusetts based agents at Jordan Insurance. Put our 60 years of expertise and experience to use to make sure your business has the right coverage for its situation. Give us a call today at 781-337-0427, fill out the form to the right, or visit us at 17 Front Street in Weymouth if you want to talk about your business umbrella liability insurance needs.