The must-have insurance for all businesses is general liability insurance. This type of insurance protects businesses from legal fees, property damage, and injuries. There are more specific insurance types for these coverages, but general liability helps cover portions of each. General liability only covers so much of the expenses, however.
Commercial umbrella insurance is a second layer for general liability insurance. If your general liability coverage does not cover the full amount of expenses, then umbrella insurance will cover the rest. For example, your general liability insurance only covers $10,000, but your expenses are $13,000. Commercial umbrella insurance will cover the extra $3,000.
What Does Commercial Umbrella Cover?
General liability insurance covers a broad spectrum of areas: property damage, injuries to employees, legal fees associated with lawsuits, and more. Umbrella insurance helps cover these aspects of the business. Additionally, it helps cover the following:
- Liquor Law
Fortunately for clients, Texas Insurance Agency works with a dozen different insurance companies. The large selection of commercial umbrella insurance plans helps clients find the right one for their budget. Most umbrella policies only cost a few hundreds of dollars every year for up to a million dollars in coverages.
Benefits of Umbrella Insurance
Commercial umbrella insurance will help businesses in many ways. Firstly, umbrella insurance is especially great for small businesses. A small business is more likely to go under if it is hit with large legal fees or property damage. If the general liability plan is unable to cover everything, the umbrella policy will help. For some businesses, umbrella insurance is not necessary, but it never hurts to have an extra layer of protection.
Secondly, businesses will save money from umbrella insurance. No matter what size business you have, you are going to save a lot with an umbrella insurance policy. Texas Insurance Agency can help clients find the right policy for their business or company. Each policy varies in coverage costs and exclusions.
Secure a Policy Today
Texas Insurance Agency has a team equipped to help your business. Get in touch with an agent today by calling (281) 398-1010. An agent will be in touch so you can get the extra protection you need. There are many types of commercial insurances, and umbrella insurance is just one type.