Is an Umbrella Policy Right for Your Business?

Running a successful small business can be challenging. Not only must entrepreneurs meet customer demands, they must also oversee a variety of administrative tasks. If your organization has general business insurance, you may think you don’t have to worry about finding more insurance. That may not be accurate. If any of the following apply to your business, you may need to collaborate with a Texas insurance agency to establish an umbrella policy.

Guests

If you invite customers, vendors, or others to your worksite, your company has increased exposure to potentially costly lawsuits. An umbrella policy can boost general business coverage if your company has frequent guests.

Cars

Automobiles are dangerous. If you have company vehicles, you probably have company automobile insurance. Nonetheless, if your employees use their own cars to conduct professional business, your company could be held liable for any damage they cause. Generally, umbrella policies cover the difference.

Hazards

Finally, if your worksite is specifically hazardous, a general liability policy is probably insufficient to protect your company from lawsuits. Umbrella coverage may pick up where workers’ compensation coverage ends.
While general liability insurance is often sufficient for small businesses, some require more coverage. If your organization needs an umbrella policy, you should contact a Texas insurance agency to get the right protection for your business.

 

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