As a small business owner, you understand the importance of commercial insurance to protect your business’ assets and liability risks. However, even with a good business insurance policy in place, some incidents result in expenses so high that they exceed policy limits. Where a larger company may be able to absorb those expenses, your floral shop, used bookstore, or restaurant may take a huge financial blow.
You’re probably wondering about what could possibly happen that could cost so much. Just think of the number of accidents. A customer may slip on a loose floorboard, break a leg, and then sue you for his or her medical bills, lost wages during recovery and an extra sum for pain and suffering. Perhaps an employee sets out on a delivery after a night of poor sleep and causes an accident, which your business will be responsible for.
The chances of an incident with such a high price tag occurring are slim, but why risk going unprotected? Just one unexpected accident could demolish your business’ bank account and risk shutting you down, especially if you wind up in court.
Ask your independent insurance agent about commercial umbrella insurance. This valuable coverage acts as an “umbrella,” adding an additional layer of coverage on top of your underlying policies. Once those limits have been exhausted, your umbrella insurance will kick in. Better yet, this coverage (often sold in increments of $1 million) is more affordable than you may think.
Get a free quote today. Contact Legacy Insurance for more information on umbrella insurance.