As an Ohio business owner, you already know that anything can happen. One day you’re riding high because your profits are at record levels, and the next day you’re dealing with an accident on the property and a potential lawsuit. The ups and downs of business are one of the reasons for insurance coverage.
But what if your current policy isn’t enough to cover a big accident? In those times, your standard business insurance may not be enough. Without more coverage, your Ohio business could go under just from the legal fees alone. That’s where an Ohio commercial umbrella insurance policy comes in.
This policy offers extra liability coverage to protect you — like an umbrella. Whether it’s a car accident that results in a death, a cyber breach that costs millions, or an injury in your store, umbrella insurance can help if you’re liable for damages.
Although rare, these kinds of accidents can bankrupt your company. Your policy has $1 million in liability coverage, but the claim and settlement cost $2 million. You’ll have to pay the difference. Where will you get that extra million?
With a good umbrella policy covering your Ohio business, you won’t have to worry. Your business insurance will pay up to its policy limit, then your umbrella policy will pay the rest, up to that policy’s limits.
Because you don’t need umbrella coverage for every claim, it’s relatively inexpensive to purchase. You can double or quadruple your liability policy limits for much less than a typical insurance policy. Why wouldn’t you buy a policy that offers extra protection for a fraction of the cost?
Contact us today or complete the form for a free quote.