It’s in the news. You hear more and more about massive jury awards that result in a business’ financial ruin. Most business owners never expect to encounter a loss that exceeds the limits of the coverage they have to manage accidents, mistakes and injuries—also known as liability insurance—but unfortunately in today’s business environment, it happens too often.
A large loss could impact the business success you’ve worked so hard to achieve and destroy your hopes for a bright future. Smith Davis Insurance can help you protect the assets you have today by providing added coverage where you need it most. We can help you build a tailored insurance solution that meets the specific needs of your business.
All businesses are vulnerable
No matter the size of your company or how well it’s run, your business faces the potential of a devastating claim arising from an unforeseen event. For example, let’s say you own a retail store or apartment building, and a customer trips on the carpet and hits his head, sustaining serious brain injury. You could be potentially liable for millions of dollars in medical and other payments.
Would that entire sum be covered by your existing business liability insurance? Could your business savings and/or revenue make up for the difference in what’s not covered? If your answer is no, that’s where Commercial Umbrella Coverage comes in. Umbrella Coverage goes above and beyond basic business liability insurance limits, offering up to $10 million of additional funds to manage situations just like this.
If you are a small business owner, you might think they can’t take what you don’t have. Think again—a court can seize the business assets you currently have and even allocate future earnings to satisfy a judgment against you. It’s never too soon to invest in umbrella coverage.
Get the ultimate in asset protection
It’s your decision how to best spend each one of your hard-earned dollars. But if an unexpected major loss occurs that key decision may no longer be yours. You’ll find that Commercial Umbrella Coverage offers you a way to help ensure your business assets remain yours for less than you might expect.
Do you know if your current coverage offers you the protection that you want for your business against major catastrophic events? If you don’t, contact Smith Davis Insurance today to help you find out.