Umbrella insurance offers a much higher level of protection than traditional insurance. You can get umbrella insurance to protect all your other assets, including your building, your equipment, and your vehicles. Umbrella insurance even protects you in other ways, such as if you are accused of slander or libel. But do you need umbrella insurance if your assets are small?
If you have a small business in Georgia, you know that you have the best of all worlds. From the environment to the people, living in the Southeast U.S. offers pleasant experiences every day. But sometimes the unexpected happens, and we at Johnathan Roberts Insurance Agency want to make sure you have the protection you need so you can move on from any unfortunate events.
Umbrella Insurance Usually Comes In Increments of $1 Million
That seems like a great number, but you may be wondering if it is necessary for you. Especially when your Georgia small business is new, your assets may not be large. With few employees and limited resources, you may decide to just take your chances and hope nothing bad happens.
Umbrella insurance is only there if you need it. For instance, if someone is badly injured by one of your products, the medical bills may go far beyond the limits of your regular liability insurance. Even if you have personally separated your personal resources from your business assets, you could lose the business entirely if you cannot handle the claim.
Expect the Unexpected
You worked hard to start your business. Even when your business is new, it may be your most valuable asset. If you want to find the best protection available in the Southeast U.S., call the Johnathan Roberts Insurance Agency today.
In the event of a lawsuit, do you have enough liability coverage to protect against the potential financial fallout that can result? Do you live in Georgia or the Southeast US? If so, the Jonathan Roberts Insurance Agency can help provide this important liability coverage.
Why Umbrella Insurance?
An unexpected event can lead to property damage or an injury that leaves the policyholder liable. Umbrella insurance will take effect when other forms of insurance, such as homeowners or auto, have exhausted their liability limits.
To determine the appropriate level of coverage for your needs, you need to consider the total value of the assets that need protection, the impact a future income loss will have, and the perceived scope of the risks you could face.
What exactly is umbrella liability coverage?
It is also known as personal liability or excess liability insurance. This coverage does not stand alone. It is a supplement for other insurance policies you already have, such as homeowners, renters, or auto insurance. Its purpose is to kick in after the liability coverage on those policies has been exhausted.
If you are involved in a lawsuit, the amount of the settlement may exceed the limits of your current policies. That is when umbrella liability insurance begins to pay. The financial protection it offers comes into play under extreme circumstances, at the same time protecting all of your assets against possible loss.
In some cases, umbrella policies can be written to provide a more extensive form of coverage not found in other policies, such as slander or libel, and can help with the legal fees associated with it.
Give Us A Call
If you are among the fortunate ones that have accumulated assets and wealth, make sure you have enough liability coverage to safeguard them. Jonathan Roberts Insurance Agency can provide answers to questions or a quote to help determine how much coverage will meet your needs in Georgia and the Southeast US. Contact us today.