When you own a business, you need to make sure that you maintain the correct types of insurance. In certain situations, liability coverage alone is simply not enough, and could eventually lead to unforeseen costs for your business. That is where commercial umbrella insurance comes in.
Commercial Umbrella Insurance: The Basics
Often referred to as excess liability, umbrella insurance coverage is an extra amount of coverage that allows you to secure your assets better than you could with regular liability insurance. In short, umbrella insurance adds an extra layer of protection for such complicated and stressful situations as expensive lawsuits.
Commercial umbrella insurance comes in handy when liability insurance coverage has been surpassed. This is a common issue with businesses, as there are things that can occur that may be out of your control.
For example, a customer could injure themselves or destroy parts of the building. Particularly if the injuries are severe or if the building is heavily damaged (i.e., if a customer accelerated into the business and obliterated walls and windows, or if someone fell and knocked down shelves in the process), this would call for an extra amount of coverage to allocate towards repairs as well as costs of bodily injury.
You may be considering this policy for your business. U.P. Insurance Agency Inc. in Negaunee, MI can provide you with the expertise needed to figure out the best commercial umbrella insurance policy.
Contact Us Today
If you are having difficulty deciding if an umbrella policy is right for you or if you have any questions, U.P. Insurance Agency Inc. will clear up any confusion you may have and guide you through the process. Call or email U.P. Insurance Agency Inc. today, or if you are in the Negaunee, MI area, stop by the office to discuss your future commercial umbrella policy.
