As a business owner in Fillmore, NY, you understand the importance of protecting your business from financial losses due to unforeseen events. While your standard insurance policies may provide coverage for these risks, there are certain scenarios that may still leave you unprotected. Walker and Associates Insurance Agencies Inc. is here to assist with all your queries.
What is Commercial Umbrella Insurance?
Commercial umbrella insurance provides additional liability protection above limits included in your standard policies such as general liability, automotive liability, employer liability, and so on. It kicks in when the costs associated with a claim exceed the limits of those policies. For example, suppose you have a general liability policy with a limit of $1 million but the costs associated with the claim exceed that limit. In that case, commercial umbrella insurance will cover any expenses beyond that amount up to its limits.
Why Does My Business Need Commercial Umbrella Insurance?
Umbrella insurance gives you peace of mind knowing that you have extra protection if an unexpected event should occur. The additional coverage provided by this type of policy can help protect both your business and personal assets from large losses due to claims or lawsuits.
Having umbrella insurance also helps protect your company’s reputation by ensuring that all claims are handled appropriately and quickly without any financial strain on the company itself. Furthermore, many customers require businesses to carry this type of coverage before signing contracts — so having it can be beneficial in terms of securing new business opportunities in Fillmore, NY as well.
Get The Right Coverage For Your Needs
Contact Walker and Associates Insurance Agencies Inc. – speak with one of our agents today! We’ll be happy to assess your needs and provide guidance on how best to protect yourself with commercial umbrella insurance!