Individual and commercial insurance policies have coverage limits that cap their payments, but umbrella insurance extends those limits and provides other benefits. Given the value of umbrella insurance, many businesses and professions would benefit from its protection, particularly because it is inexpensive. If you have questions about how umbrella insurance works or can help you or your company, consider AlphaSure Affordable Insurance Services, serving the Laredo and San Antonio, TX, areas.
Which Professions Need Umbrella Insurance?
Businesses generally carry liability insurance to protect against potential injuries to customers or others who enter the business’s facilities. Physicians, accountants, and others risk having clients fall or suffer other injuries during office visits. Similarly, stores, restaurants, auto dealers, and others that invite the public into their premises risk similar accidents. Potentially, an accident could occur in which the liabilities exceed the limits of their base liability policy, in which case the business or professional must pay the difference out of pocket if they do not have umbrella insurance.
Businesses that work on others’ property benefit from umbrella insurance. Contractors, plumbers, and electricians risk damaging property or injuring others when working onsite. Likewise, delivery businesses and those operating vehicles for other reasons face liability for damage or injuries in motor vehicle accidents.
Besides potentially exceeding policy limits, some businesses must carry umbrella insurance to meet their contractual obligations with government agencies or private companies. Finally, businesses that potentially face legal action for libel, slander, or other actions can benefit from umbrella insurance.
Working With AlphaSure Affordable Insurance Services
AlphaSure Affordable Insurance Services serves the insurance needs of individuals and businesses in the Laredo and San Antonio, TX, areas. Call us to schedule an appointment today in San Antonio at (956) 729-9500 or Laredo at (210) 888-1750.