Umbrella Insurance Policy – A Must-Have for Both Small and Large Business Owners

If you are a business owner, you must be familiar with the risks and uncertainties of running a business. It’s vital to get total insurance coverage for your business, and an umbrella insurance policy helps cover any gaps left in basic liability insurance policies. If you are looking for extra coverage for your commercial business, Janis-Shunta Insurance can help. We are a full-service insurance provider serving the residents of Muskegon, MI.

Is Umbrella Insurance Necessary For Businesses?

Umbrella insurance policies step in to complement other policies where coverage limits are exhausted. Commercial umbrella insurance covers similar costs like liability insurance for businesses, including attorney fees, medical expenses, and damages from lawsuits. Unanticipated things happen all the time, and it may not be possible to estimate how much coverage you need for these uncertainties. Umbrella insurance offers small and large businesses an extra layer of financial security on depleted coverage.

Small Businesses And Umbrella Insurance

Most business owners make the mistake of thinking only large businesses need additional coverage when basic policy coverage is depleted. Businesses of any size are prone to risks, and without extra capital on hand in emergencies, even small businesses could use the help. It is a better option for raising limits on existing insurance policies as you can expand the coverage across many policies and under one umbrella.

The Costs For Umbrella Insurance For Small And Large Businesses

The cost of an insurance policy for commercial purposes depends on the nature of the business, your claims history, and the limits bought. As such, large businesses with greater risks pay more for an umbrella than small businesses with low risks. The policy is inexpensive, especially for small businesses, and a worthy investment for large business owners.

Umbrella insurance acts as a surplus coverage for small and large businesses, and it comes into effect when basic liability policies can’t cover an outstanding financial liability. If you want to keep your business protected with umbrella insurance, let Janis-Shunta Insurance help. Contact us for your business’ umbrella insurance plan in Muskegon, MI.