Most business owners are looking for extra coverage for potential insurance claims. Umbrella insurance helps to protect them when a claim exceeds the limits of their liability coverage on a commercial business insurance policy. The Leo Insurance Group of Las Vegas, NV, can assist in determining what level of umbrella insurance is needed to protect your business.
How Does Umbrella Insurance Work?
Umbrella insurance is quite flexible for a business, as you can extend the level of general liability coverage. The policy addition adds another layer of protection by extending the coverage limits. Umbrella insurance is designed to cover all costs that exceed the existing limits of your current commercial business insurance policy.
What Does Umbrella Insurance Cover?
Umbrella insurance helps to cover a business from general liability coverage claims. It could include covering bodily injury claims from an employee or customer getting injured at your business site. You will receive protection from potential property damage claims. Usually, it is an accident caused by your employees while working on your customer’s property. Finally, you gain additional coverage to financially protect you from lawsuits initiated by a former employee or customer. Each is contesting additional financial support for their work-related injuries or property damage. Keep in mind that umbrella insurance does have coverage limits. Confer with your insurance provider on what is the limit of their umbrella insurance policy. Information should be shared before agreeing to a commercial insurance policy adjustment.
If you own a business, consider adding umbrella insurance coverage to your existing commercial business insurance policy. Leo Insurance Group of Las Vegas, NV, is dedicated to creating coverage that meets your business insurance needs. Call and schedule an appointment today.
