Commercial Umbrella Insurance in Escondido, CA
Like a personal umbrella policy, a business umbrella policy covers a catastrophic loss and can potentially save a business from huge financial distress. Often, it can be the difference of staying in business or going out of business.
Umbrella liability insurance for your business will protect you when a covered claim occurs and your existing liability policy cannot cover all the expenses. The standard business liability policy is typically adequate for most situations, but umbrella liability will help ensure that your business is protected for large losses. Owning a business is risky, but going without proper insurance is riskier. No one wants to be sued, but because accidents occur, sometimes lawsuits are unavoidable.
Consider these possibilities:
- Your company holiday party serves too much alcohol and people leave intoxicated resulting in personal injury or damages.
- Your commercial building has an undetected carbon monoxide leak and that results in injury/death.
- Your business is accused of failing to render the appropriate professional services.
Commercial Umbrella Liability Insurance Options
Business umbrella policies are inexpensive and picks up where your business auto liability, general liability or other liability coverage stops. Umbrella insurance provides extra coverage against bodily injury and/or property damage.
For example: Your current policy covers you for $1 million and you are successfully sued for $1.5 million, your business umbrella coverage would pay the outstanding $500,000 – For most, this is the difference between losing your business or staying in business.
To determine the amount of commercial umbrella insurance coverage you need, a variety of factors are considered, such us the type of business you own and the coverage that is currently in place.
We will discuss with you the details of a commercial umbrella policy to help you make an educated decision about your small business needs. We can also let you if there are other types of additional coverage that would be more appropriate, like excess liability coverage. Talk to a HJM Insurance Services, Inc. agent today. We will answer your questions and help you gain the knowledge you need to make the best decision for your company.