If you own a small business, chances are you’re protecting it with a Business Owner’s Policy (BOP) or a Commercial Package Policy (CPP)—both of which provide essential coverage for loss and liability. But have you considered adding an umbrella policy for extra protection?
Why Consider an Umbrella Policy?
An umbrella policy acts as an additional layer of coverage that kicks in when your primary policies—such as commercial auto liability, general liability, or other business liability coverages—have reached their limits due to an exceptionally costly claim. This added protection is crucial for handling severe and potentially devastating liability cases. And the best part? Umbrella policies are surprisingly affordable. Just keep in mind that an umbrella policy is supplemental—it enhances, but does not replace, your existing coverage.
Small Businesses Still Face Big Liability Risks
If your small business engages in any of the following activities, umbrella coverage is worth serious consideration:
- Hosting customers or vendors at your office
- Operating machinery that could cause injury
- Using social media to promote your business
- Hiring outside contractors (e.g., cleaning, plowing, landscaping services)
- Delivering products to homes or businesses
- Providing company vehicles to employees (or permitting personal cars for business use)
- Advertising in newspapers, TV, radio, or on billboards
- Sharing office space with other businesses
- Serving food or beverages
- Receiving frequent package deliveries
- Renting office space to others
Even small businesses face unexpected liability risks. An umbrella policy ensures that you have the financial protection to keep your business secure when the unexpected happens.
Would you like help finding the right umbrella coverage for your business? Let us know, and we will be happy to help.
