If you’re a company owner, you’re probably doing all you can to keep your company afloat. Whether you have a large or small business, keeping it running is no small task. And understand that unexpected things can happen is a large part of running a business. This is where the talk about insurance comes in.
Having some kind of insurance policy for your business is always a great idea. We say this because you have worked hard to make your business what it is now. And there should be something that protects all the hard work that you’ve done over the years. Therefore, if you’re thinking about adding a little extra coverage to your current commercial insurance, then you’re thinking about adding commercial umbrella insurance.
Before diving into commercial umbrella insurance, it’s essential to understand the basics. And in this case, the basic is knowing what commercial insurance is.
Commercial insurance does three things. It protects your company, the leaders in your company, and your employees from unexpected loss. There are a couple of different commercial insurance policies that you can get, but the most common one is general liability commercial insurance. In this, the type of claims you can fill includes property damage, bodily injury, advertising mistake, and libel & slander.
There are two other kinds of commercial insurance that many business owners add to general liability insurance. These two include commercial property insurance and business income insurance.
What Is Commerical Umbrella Insurance?
When it comes to talking about commercial umbrella insurance, there is something that you should initially realize. It’s important to know that it is not a replacement for your general liability commercial insurance or any other kind of commercial insurance you have. This is simply an add-on to the insurance policy that you already have. You cannot get commercial umbrella insurance coverage without having previous insurance.
Therefore, this is where the definition of commercial umbrella insurance comes from. This kind of insurance gives you an extra layer of protection in terms of cost. For example, if you’re paying medical expenses or legal costs for a settlement, your initial insurance might not pay for it all. In this case, the cost exceeds the limit you have, and you don’t want to pay out of pocket. Your umbrella coverage helps to pay for the leftover costs. Therefore, understand that it just acts as an extension.
Think of this as an even better way to protect your business. So, if you have been thinking about signing up for commercial umbrella insurance for a while, go for it!
Visit Texas Insurance Agency & Sign Up For Commerical Umbrella Insurance
Maybe you’re also searching for a company where you’ll sign up for insurance. Choose Texas Insurance Agency. We have an amazing team of insurance agents ready to help with protecting your business. And know that if you ever have any questions or need more information, they are ready to do just that for you.
If you have a business that allows you to interact with your customers, or you happen to work on the property of others, then you want to consider getting this kind of insurance. Take the time to visit or call us at Texas Insurance Agency and sign up for commercial umbrella insurance.