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Florence, AL 35630

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McBride Benefit Solutions Blog

Umbrella Insurance Coverage for a Large Business

An umbrella insurance policy can significantly enhance your financial protection. If you own a large business generating substantial revenue, you might have considered adding umbrella insurance to your commercial insurance policy.

Understanding Umbrella Insurance

Umbrella insurance boosts your business’ liability coverage. An umbrella insurance claim can only be filed after the limits of your original policy have been exhausted. To be eligible for an umbrella policy, you must have an active liability policy.

Assessing Commercial Assets

Analyze your commercial assets. Consider the inventory stored at your business premises. Review the machinery, equipment, vehicles, and other tangible assets essential for your business operations.

If an accident occurs at your business location, would your current liability plan offer enough coverage? As a large business operator, you might find that your existing policy doesn’t provide sufficient protection.

Evaluating Risk Factors

Consider the risk of injury or damage to your business location. If the risk of being sued is high, obtaining umbrella insurance coverage may be in your best interest.

Umbrella Insurance Inclusions

Research the inclusions that an umbrella insurance policy may provide. An umbrella insurance policy might cover the cost of retaining legal advice, filing legal paperwork, and some or all of the costs associated with a physical injury or property damage.

Contact an Agent Serving Florence, AL

Now that you’ve reviewed umbrella insurance, you might be ready to obtain this type of coverage for your large business. If so, contact one of our agents at McBride Benefit Solutions. An agent will schedule an appointment for you to learn more about umbrella insurance.

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