Umbrella Policy

An umbrella policy is a way in which you can further protect yourself. You can take out a liability insurance policy, but you may find that your liability insurance is simply not enough to cover the damages that you feel you may incur. Sometimes, you can only take your limits so high before you have no more room. As a result, you have to do something about it.

An umbrella policy can be your solution. It is more or less a method for you to be able to plug the holes in your coverage. You need to plug these holes because it can be difficult to conduct business when there is always the risk that an accident could take you for a lot of money in the form of a lawsuit. You want to have every operational aspect of your business covered so that anything you can be held liable for would fall back on your insurance and not on your business's bank account.


There are a number of myths that surround umbrella coverage, which is why more individuals don't have it. One of those myths is that only rich people invest in umbrella policies. Actually, some feel that only the rich invest in any type of insurance. This applies to businesses too. Some businesses make more money than others, but that's no reason to not fill in any gaps in insurance coverage.

Some even feel that umbrella coverage is too complicated to integrate into an existing general liability or strict liability insurance policy. The truth is that the insurance company will help with this so that umbrella coverage is put in the right areas.

The last myth is that umbrella policies are too expensive. This couldn't be further from the truth because they are actually quite affordable. One of the reasons why they are affordable is because they kick in after the initial limits. Sometimes they don't have to be used, but they are there in case they need to be. If a lawsuit is brought against you and the plaintiff wins, then you may find that your umbrella policy would make a great addition to your general liability insurance.


There are a number of expenses that can be covered under an umbrella policy. For instance, someone encounters bodily injury while in your business. The limit you have set to cover such damages is not enough for this particular claim. Thankfully, you have your umbrella policy to take over the difference rather than the difference coming from your business's bottom line.

Umbrella policies also come in different forms. For instance, there is a possibility that you may have to send an employee out to do something business-related in their personal vehicle. The automobile coverage you have with your general liability insurance may not be enough to cover an accident if it were to occur.

If the employee were involved in an accident that was their fault, their own insurance may pay to an extent or may not pay at all. This means that the liability falls back on to you. You will need to have the proper protection in place or a lawsuit could take a bite out of your business revenue.

So make sure you have yourself protected. You don't want to leave yourself vulnerable in any way. Any time there is vulnerability, something is going to happen that will cause that vulnerability to be revealed. When it is revealed, it can be very expensive. With an umbrella policy, you can make sure that you are sealed air tight in case something occurs. From there, it's just business as usual.



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General Liability Insurance

Protecting Businesses Nationwide Since 1999