Should I Consider Commercial Umbrella Insurance?
The only commercial insurance required by law in Grand Ledge and Grand Rapids, MI is commercial auto insurance for vehicles used in the line of work. Still, there are many other categories of indemnification that business owners choose to buy. Umbrella insurance is one of them.
It is imperative to do a financial inventory of your corporation and analyze the various components in which you operate. In doing so, you can make your best prediction about the kinds of perils you may possibly encounter and their cost.
Your standard insurance types, such as commercial property and commercial auto insurance, will have particular limits and a range of incidents they cover. Umbrella insurance is designed to work alongside existing policies and cover costs once those caps have been breached.
Umbrella insurance typically has a much higher ceiling on their products, and Bye Insurance can further advise you on the specifics that our plans can protect against.
In addition, an umbrella policy will sometimes have a broader scope of contingencies that will be included. This can be helpful in the realm of advertising, guarding your interests in the event of libel or slander or if you run into errors, omissions, or accidentally misleading information in your copy.
Commercial umbrella insurance should be a consideration if your properties and inventory range in value beyond the spectrum of standard insurance coverage. In addition, if the area in which you do business is one where the stakes are high in terms of injuries, liabilities, or damages, including medical expenses, or if there is a high capacity for accidents, consult with us to discuss these concerns.
Bye Insurance Can Help You Grand Ledge and Grand Rapids, MI business owners benefit from the expertise offered by our firm, and we look forward to hearing from you. Please get in touch with us today via email, calling, or stopping by the office.