What Kinds of Businesses Need Umbrella Insurance?

Whether you have a startup business or a large corporation, you need to understand what kinds of companies need umbrella insurance from Armor Insurance Group, serving Virginia Beach, VA. It is important to get the right type of insurance because not all policies are designed to cover the same risks.

For example, if your business focuses on construction, you have a higher risk of employee injuries and property damage. Adding umbrella insurance can help protect your assets in a major lawsuit.

Umbrella insurance works in conjunction with other business insurance policies to provide an additional layer of protection. The insurance policy is not designed to cover intentional damage but offers a higher limit than many standard general liability policies.

Many business owners feel their current general liability coverage is adequate to protect them from liability claims. This can be true, but there are times when a major lawsuit can threaten the very existence of your business.

Umbrella insurance is also helpful for companies that handle clients’ property. If your business has an office in an office building, it is important to make sure that you have enough protection to protect yourself from the risk of damage to the building.

Umbrella insurance is available for small and mid-size businesses from Armor Insurance Group serving Virginia Beach, VA.

Umbrella insurance isn’t mandatory, but it’s a good idea for most businesses to have some coverage. This type of insurance offers an additional layer of protection to help your business get through the most stressful times. It can be used as a supplemental policy to your primary liability protection plan. It’s essential to research your coverage options before making a decision. Contact your insurance company representative today to learn more about whether you could benefit from umbrella insurance.