When you run a business, you may find your insurance agent feels as though you should purchase commercial umbrella insurance in Burbank. It is natural to wonder why, especially because many business owners do not feel this is necessary additional coverage. However, in today’s environment, the chances are that higher and more expensive coverage will come in handy for most businesses. After all, having the right insurance policy truly makes a difference when you want to protect your company.
What Does a Commercial Umbrella Insurance Policy Do?
Understanding commercial umbrella insurance is important for any business owner. This coverage gives you protection in the event of an accident, and the current policy you have for general liability cannot meet any claims filed against you. In many cases, this policy picks up where your other business policies stop. It extends coverage, both for what it covers and the protection level you gain.
Just like other forms of insurance for businesses, California commercial umbrella insurance does have limitations. So, always be sure you remember that when you are shopping around for policies.
How Does Commercial Umbrella Insurance in Burbank Work?
One way that these coverages work is by adding to your existing policy’s limits. In some cases, it boosts it to $1 million or more for additional claims coverage for any existing general liability or commercial auto plans. In other cases, you may have a further expansion, adding millions for additional protection. It is also good to know that commercial umbrella policies are not extremely expensive for the level of protection provided.
With a commercial umbrella insurance policy, you can broaden the scope of claims covered by the plan you have. A lot of general liability plans will have exclusions or certain kinds of claims they do not cover. Commercial umbrella insurance policies could extend your protections for some of the areas of coverage that are excluded. You might also be able to customize your policy so that you can address any areas of concern to give you added peace of mind.
Who Should Look for Commercial Umbrella Insurance Quotes?
When purchasing business insurance, many companies would benefit from putting funds toward an umbrella coverage plan. With liability risks rising all the time and more claims upheld in the courts than ever, you should be working with a business insurance agent in Burbank to ensure you have all of your bases covered. When you have the right kind of insurance coverage and level for claims, you can start minimizing the risks faced and boost the financial stability of your company.
Whether you already have insurance in place for your company and looking to add more, or you want to switch providers, we are here to help at Haddajian Insurance Agency. With a simple phone call, a member of our team can set up a time to get a free quote and consultation or address any questions you have regarding commercial umbrella insurance in Burbank. Ready to buy a policy from us? Reach our team by calling (818) 643-2345.