Some claims are just too big for normal insurance. As a business owner, you probably don’t want to think worst-case-scenario about a huge disaster or lawsuit befalling your business. It’s easier to shut those things out of our minds. But the truth is that it might happen. Big losses, though they might have a low probability of happening, do happen. And when they do they can be absolutely devastating.
That’s why there’s excess liability coverage. You might know it better by its nickname, umbrella insurance. What does umbrella insurance do, exactly? And why do you need it for your business? We’ll explain what umbrella insurance can do for your business and why you might want to consider it.