As a small business, it can be tricky to know what insurance coverages you need. After all, you may not have hundreds of employees or millions of customers. Even so, your small business is open to a whole host of risks that you may not see as issues. Many small business owners believe that umbrella insurance in San Antonio, TX is for large businesses with more risks. Generally, umbrella insurance is for any business whose risks are great enough.
The function of a commercial umbrella insurance policy is to extend your liability coverage. If a claim exhausts your general liability policy, for example, you will be left to pay the remaining costs. With umbrella insurance, your policy will step in to help cover the costs. Here are a few good reasons why small businesses need umbrella insurance:
- It can save you money. Raising the limits of your individual liability policies means your premiums will likely increase, too. With an umbrella policy, you can benefit from added coverage without raising individual limits and incurring higher premiums. Umbrella insurance is affordable for each business and is available in $1 million increments.
- It may be necessary to meet a contractor’s insurance requirements. If you work with wealthy clients or big businesses, they usually want a little assurance that you have safeguards in place. You can fill any limit gap between what policies you have and what they want with an umbrella insurance policy.
- It gives you peace of mind. Unexpected things happen all the time. Work-related car accidents, slips and falls and other incidents can cost a business big. That kind of liability can be enough to ruin a small business, but if you have umbrella insurance, you have the financial flexibility to handle it all.
Umbrella insurance is a versatile and convenient policy. Rest easy knowing your business is well protected with a solid commercial insurance policy. Visit the Texas professionals at Jerry R. Carnahan Insurance to get started!
DON’T BE SHY. GIVE US YOUR QUESTIONS, FEEDBACK AND OPINIONS ON THIS TOPIC.