Whether you’ve worked hard for years to make your business in Utah a success, or you’re just getting started and want to ensure your small business gets off on the right foot, you’ll need to consider umbrella insurance.
What Is Umbrella Insurance?
Most businesses have some liability insurance. Umbrella insurance is an extra layer of protection that supplements and extends beyond your basic coverage. It’s important to note that umbrella insurance is not stand-alone insurance. It works in conjunction with a general liability policy.
Why Does Your Small Business Need Umbrella Insurance?
There are several reasons a small business owner might need umbrella insurance.
- Protection from Lawsuits: Unfortunately, lawsuits against businesses are not uncommon. A single lawsuit could put a small company out of business. Lawsuits could occur due to a delivery driver being in an accident or a customer slipping and receiving injuries while on the premises.
- Assistance with Settlements: Beyond the legal costs of a potential lawsuit, your small business may be required to pay for medical and hospital expenses. Extra coverage can help pay for these expenses.
- High-Hazard Industry Protection: Some industries, like construction companies, will likely need greater insurance coverage. If your business, no matter how small, is considered a high-hazard company, you’ll want to purchase umbrella insurance.
Contact Christensen Insurance Group in Sandy, UT
Christensen Insurance has been serving clients since the 1950s. We have the experience to help you put together the right insurance policy. At the Christensen Insurance Group in Sandy, UT, we can help you decide what type of umbrella insurance your business needs. Contact us to get started today.
