September 24, 2016

Umbrella Liability

Mississippi Umbrella Liability Policies


Protecting your business from loss is important, especially in the case of liability for damages. No matter how experienced you are at your profession, you are never truly protected until you have liability coverage. If you are legally liable for damage to someone’s property or an injury that was a result of your business, your business could be put at risk.  Having an umbrella policy can give your business higher limits and broader scope to your liability coverage. Also, legal costs can be covered under some umbrella policies.

How To Choose The Best Coverage

Determine These Two Things:

Is Your Business At Risk?

A big factor in determining if your business needs Liability insurance is determining your risk.  Could you be sued for damages?  Could you be held legally responsible for something that could damage your business?  These are all things to consider when you are looking to purchase liability insurance, and in determining how much you need.

Are Your Business Assets At Risk?

These are some questions that you should consider:

  • Could your business face closing down or bankruptcy due to a legal suit?
  • Does your business have assets that you want to protect in the case of a suit?
  • How much coverage do you need to prevent your business from going under?
  • How much coverage are you comfortable with having?

How To Buy Umbrella Insurance

An umbrella policy is added protection on top of your current property and auto insurance.  It gives your business more financial protection than your other insurance provides.  Here are some things that you should consider when you are looking to purchase umbrella insurance:

How Much do you need?

This is a big factor in figuring out how large your policies coverage needs to be.  Your business is probably at risk in some way, but the amount of that risk can differ based upon all kinds of different factors.  Give us a call and let us see what we can do to help you determine the amount of insurance that you need.

What Risk are you taking on not having umbrella liability?

Another thing that you need to consider is your risk in not having the proper insurance coverage for your business.  Are you prepared to take a financial hit in the event of a lawsuit? Depending on the suit, your business could have big consequences such as bankruptcy, etc. due to a large lawsuit.

What is your monthly budget for umbrella insurance?

What can your business afford to pay for monthly for an umbrella policy?  This is a big factor in selecting the right coverage because it makes you consider how much you need and what you are going to spend on that coverage.

Ocean Springs Liability Insurance

Give Gartman Insurance in Ocean Springs a call at (228) 872-3881 or come visit us and let us see what we can do to help you get umbrella coverage that best meets your businesses needs.