Running a small business comes with plenty of risks, and no matter how carefully you plan, unexpected situations can pop up and jeopardize your finances and operations.
Umbrella Insurance can be a lifesaver for business owners by providing extra coverage beyond your standard Commercial Insurance policies to safeguard your business from costly lawsuits, accidents, and claims. Learn the benefits of this important policy, and discover how Aegis Insurance can help you secure this coverage as part of your Business Insurance portfolio.
What Is Umbrella Insurance?
Umbrella Insurance is a standalone policy that acts as a financial safety net, offering additional liability protection when you've hit the limits of your existing General Liability, Commercial Auto, or Employer's Liability insurance. The policy can help cover legal fees, medical expenses, or settlement costs that might otherwise put your business at risk.
Why Every Small Business Should Consider Umbrella Insurance
Many small business owners assume their existing insurance policies provide enough protection. However, the reality is that lawsuits and large claims can quickly exceed standard coverage limits, leaving business owners responsible for the remaining costs.
Umbrella Insurance is an affordable way to add extra security, giving you peace of mind that your business is protected against high-cost claims.
How Umbrella Insurance Protects Your Business
Whether you run a busy retail store, a popular restaurant, or an office building for professional services, Umbrella Insurance provides financial resources in case disaster strikes.
Here are a few real-world scenarios where Umbrella Insurance can make all the difference:
• Customer Injury Lawsuits – If a customer slips and falls at your place of business, their medical bills and potential legal claims could exceed the limits of your General Liability policy. Umbrella Insurance helps cover those extra costs, preventing a severe financial strain.
• Auto Accidents – If your employee causes a major accident while driving a company vehicle, the damages and legal fees could surpass your Commercial Auto policy's coverage. Umbrella Insurance steps in to cover the excess amount.
• Employee Lawsuits – If an employee files a lawsuit for discrimination, wrongful termination, or workplace harassment, your standard liability coverage might not be enough. Umbrella Insurance helps cover the additional legal expenses and settlements that your current coverage might not meet.
• Property Damage Claims – If your business operations accidentally cause significant property damage to a neighboring building or business, your General Liability limits may not be sufficient. Umbrella Insurance provides added protection to cover those costs.
Umbrella Insurance shields your business from the lasting impact of an unexpected catastrophe, whether it's liability claims, medical expenses, repairs, or more. This allows your business to move forward and not be hindered by major out-of-pocket costs.
Protect Your Business with Aegis Insurance & Financial Services
Unexpected accidents and lawsuits can happen to any business, regardless of size or industry. Don't wait until it's too late, and ensure your business is fully protected with the right insurance coverage.
Contact Aegis Insurance & Financial Services today at 713-850-7622 to learn how Umbrella Insurance can be a valuable part of your Commercial Insurance portfolio.