Did you know that umbrella insurance could significantly reduce the amount you pay for legal fees? If you own a business that faces considerable risks, it’s worth reviewing how umbrella insurance coverage can protect your assets.

What Is Umbrella Insurance Coverage?

Umbrella insurance is a type of supplemental coverage that kicks in once the limits of your standard liability insurance have been reached. This additional coverage is particularly beneficial for owners of large businesses or businesses with higher risk factors.

Large businesses are those that handle a high volume of customer transactions. Risky businesses, on the other hand, are those that rely on dangerous equipment, chemicals, vehicles, or other elements that could inadvertently cause harm.

Court Expenses to Consider

Legal proceedings can be expensive. You may need to cover attorney fees, and if found at fault, you could also be responsible for settlement costs. Umbrella insurance helps cover these out-of-pocket expenses, reducing the financial burden on your business.

By having umbrella insurance, you can retain more of your profits. The funds you save can be reinvested into operating and growing your business.

Choosing the Right Coverage Amount

Umbrella insurance policies allow you to select the coverage amount that best suits your needs. If you’re unsure how much coverage is necessary, consider having an assessment of your business and assets conducted. Based on the results, you can confidently choose an umbrella insurance policy that aligns with your requirements.

Insurance Services for the Napa Region

If you’d like to learn more about umbrella insurance, schedule a meeting with one of our Wine Valley Insurance Services agents. We’re here to help you find the right coverage to protect your business and assets.