Making sure you have proper insurance is good for any business in Cullman, AL, and an umbrella policy is a part of having proper coverage.

An umbrella policy will expand your coverage limits. For example, if your liability insurance only covers $1 million and you purchase an umbrella policy that also covers $1 million, your insurance coverage will expand to $2 million.

An umbrella policy may cover other items that your general liability insurance does not cover. General liability policies could be limited to a particular geographic area, and the umbrella policy could cover a much broader area. Umbrella insurance may pay for itself and it can provide a lot of extra coverage for a low cost. It can be more cost effective to get an umbrella policy than it is to raise the limits on your other liability policies. An agent at Insurance Solutions Inc. can help come up with a policy for you that is low cost and still provides great protection.

Umbrella insurance will help protect your assets. It’s important to remember that liability insurance will not cover everything, and if there is an accident where you aren’t fully covered, you could have to sell your business assets or your personal assets to cover your liability. As a small business owner, this could wipe you out.

Businesses that have higher risks can benefit from an umbrella policy. If your business serves high net worth clients, or clients that have higher liability limits than others, make sure to protect yourself. Even if you don’t have a business or clients that are high risk, it doesn’t hurt to err on the side of caution and carry the extra coverage, in case a claim comes in. It can give you peace of mind so you don’t lose everything you have worked for.

Contact Insurance Solutions Inc. serving Cullman, AL, for a quote on umbrella insurance.