I have a small online business. Do I need umbrella insurance?

Many businesses benefit from the protection that insurance provides. Unexpected events and circumstances can harm day-to-day business operations and reduce profits. As a result, insurance provides the coverage many businesses need to protect their assets and profits, as well as receive liability protection. Community Management Insurance Group is committed to helping Greensboro, NC business owners get the protection they need. 

What is umbrella insurance?

Umbrella insurance is secondary or backup insurance. For example, umbrella insurance kicks in after the limits of the primary business insurance policy have been met. Once the limits of your primary insurance have been met, any coverage that is still needed is covered by an umbrella insurance policy. Umbrella insurance can sometimes act as primary insurance if the primary policy doesn’t cover a particular situation or circumstance. Umbrella insurance kicks in only after the limits of the primary insurance policy have been met and exceeded. Similar to primary insurance, umbrella insurance covers liability, property damage, injuries, lawsuits, and more. 

I have a small online business. Do I need umbrella insurance?

Maybe. Regardless of the size of your business, there are still potential pitfalls that could be harmful to your business. Umbrella insurance can provide legal protection in addition to a whole host of other protections. In short, umbrella insurance creates peace of mind when it comes to the unexpected. None of us can predict the future. However, knowing that we have a secondary insurance policy ready and available to meet our business needs, should we need it, is invaluable to many business owners. One lawsuit, accident, or injury could greatly affect your business. Umbrella insurance protects you from lawsuits, loss, theft, vandalism, and more. Of course, some businesses have more risks and vulnerabilities than others. However, many businesses, large or small, online or in 3D, want to protect their business.

Schedule A Consultation Today

If you have more questions about umbrella insurance, call us at Community Management Insurance Group. We’d be happy to help you explore your options in Greensboro, NC.