A business can face many liabilities through the years, so it’s important to protect your assets through insurance. In some cases, however, a lawsuit can go beyond the limits of your current insurance plan. When that happens, the owner is stuck paying out-of-pocket fees that can ruin their budget and plans. How can they protect themselves in these types of situations? By securing commercial umbrella insurance.

In general, umbrella policies can be customized to your business, even if you’re a local entrepreneur. Maybe your current policy wasn’t able to tailor to your specific needs, so you need umbrella insurance to broaden your coverage. If you have commercial auto insurance that only covers accidents in a specific territory, for example, then an umbrella policy will expand the area. It’s also important to remember that this type of policy normally covers bodily injury and/or property damage. Even if you think this doesn’t apply to your needs, you should still check in with an agent – especially if they’ve worked with a similar type of business. They’ll have insight into a potential liability that you may have missed.

To really get the full extent of your coverage and whether or not you’ll need umbrella insurance, you should hire an independent insurance agent. When you work with an independent insurance agent, you have more choices in the types of plans and programs for your commercial insurance. Our agency values serving small businesses and always looks for the best combination of price, coverage, and service. Give Burns Insurance Agency a call if you’re worried about liabilities affecting your business.