Umbrella insurance provides you with additional compensation if you need to file a claim that exceeds your policy limits. Additionally, some policies extend coverage to perils that regular liability policies don’t cover. This makes umbrella insurance an ideal option for many home-based businesses in and around Fillmore, NY; even so, it’s important to do careful research to ensure your chosen policy meets your business’s specific needs.
Policy Limits
Umbrella insurance liability limits range from $1 million to $15 million. It’s wise to pay for a bit more liability coverage than you think you’ll need, rather than skimp on coverage and fall short; at the same time, not all home-based business owners need tens of millions of dollars in coverage.
Business Type
Covered perils vary depending on your chosen policy. Farmers and ranchers, for instance, may want to look for umbrella insurance that caters to the agricultural industry. Those who travel abroad for business purposes will want to choose a policy that covers international incidents.
Policy Coverage
Umbrella insurance coverage can apply to more than one policy. If clients come to your home regularly, you may want to consider a policy that increases liability limits for personal injury and property damage. If you offer financial or medical advice in your line of work, it may be wise to add umbrella coverage to your professional liability policy.
Find out More About Umbrella Coverage from Walker and Associates Insurance Agencies Inc.
Our team at Walker and Associates Insurance Agencies Inc. is always happy to help Fillmore, NY business owners find insurance coverage that’s a good fit for their situation. Give us a call to find out more about umbrella insurance and our other commercial insurance policies, or to request price quotes.
