"That won't happen to my business!" No one thinks it will happen to them. But it does. The truth is every business owner is vulnerable to large lawsuits. No matter what size you are, what business you're in, or where you're located - accidents still happen and settlements are growing larger every year. Limits that once seemed adequate may no longer provide the protection you need today.

Every small business is vulnerable to a major catastrophe or a huge lawsuit. If your business suffered one of these, these losses could exceed your primary insurance coverage if you haven't protected your business with umbrella insurance.

As its name suggests, umbrella insurance covers you beyond the limits of your basic business insurance. It's important because it covers unsuspected events. The good news is, it's not expensive and in certain instances, it could literally save your business.

Umbrella insurance policies provide additional liability insurance coverage after the limits of your underlying policy are reached.

For instance, several people are hurt on your property and require $1.75 million in medical treatment. Your underlying policy has a liability limit of $1 million. At this point you either have to pay $750,000 out of pocket (if you're found liable) or, if you have an umbrella insurance, that policy will cover the additional $750,000.

Umbrella policies are the safest and, when executed correctly, most affordable way to ensure you are covered.

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