You probably have a range of insurance options to protect you in various situations. However, you may worry about what would happen if a claim exceeded the limits of the liability policies you have in place. Umbrella liability coverage is one option you may wish to consider with a team member from Gunn-Mowery.
Umbrella insurance essentially picks up where primary liability coverage leaves off, helping you cover expenses your current liability plan doesn’t. In some cases, it can also protect you for events not covered by your current liability coverage — think of it as added liability protection to bring you peace of mind.
Do You Need Umbrella Coverage?
You’ve spent years building your business. You don’t want a legal claim to jeopardize that.
You may need umbrella coverage even if you already have the right underlying insurance policy. In fact, commercial umbrella insurance will only work if you already have strong insurance underpinning your protection. Your umbrella liability coverage will not cover general commercial liability claims, for example, if you don’t have a general commercial liability policy in place. Your first order of business is to get the best and the right fit of insurance for your organization. Gunn-Mowery can help by comparing insurance solutions from multiple providers to find the right policies for you. That’s the Upside of Insurance with Gunn-Mowery.
Even if you have great underlying policies, you still need commercial umbrella coverage if there is any chance your policy limits will not cover the total costs of a claim. Whether you are a non-profit, corporation, private or public organization, keep in mind that medical and legal claims can easily exceed millions of dollars. If your organization would be severely harmed by a substantial claim or would not have the assets to cover any claim beyond your policy limits, you need a commercial umbrella policy to protect you after your policy’s limits are reached.
Gunn-Mowery has cultivated excellent relationships with insurance carriers across the country, and we help some of the leading companies in this nation to find the right insurance products for their needs. We listen carefully to your concerns, and we compare insurance products from multiple carriers to find the best coverage at the best price with the right terms for. That’s the Upside of Insurance when you work with Gunn-Mowery.
The Upside of Insurance With Gunn-Mowery
When you work with Gunn-Mowery, you experience the Upside of Insurance, and part of that means more peace of mind. Businesses often worry about becoming the target of lawsuits because assets and even the very future of a business can be at risk in the event of a legal claim.
Commercial umbrella insurance provides an extra layer of coverage to protect your business and your assets if a claim goes beyond your insurance policies. Without this coverage, you may be forced to liquidate assets or pay out of pocket for medical bills, non-economic damages, legal fees and other costs claimants seek to recover in court.
With an increasing number of legal claims exceeding millions of dollars and insurance companies more concerned about placing limits on insurance policies, umbrella insurance is more important than ever before. If you run a business, you want umbrella coverage.
Whether a client slips on your property or a financial decision made by one of your directors results in losses for clients, a claim can exceed the amounts your underlying insurance covers. This is where umbrella insurance can step in to ensure you don’t have to close your doors.
Gunn-Mowery does much of the groundwork to find the right umbrella insurance for you. Our team answers your questions and works to build relationships with insurance companies so we can bring you the best quotes on various insurance options. We keep you in the driver’s seat, allowing you to choose from the best options possible, and we help you understand which coverage you may need and which you do not.