No matter how many insurance policies you have or how much you have for your real estate liability insurance policy, it still might not be enough to protect your business or your finances. Umbrella insurance gives you an extra layer of protection for when the financial storms are a bit much for you to endure all by yourself.
Consider Your Budget
Chances are that you’re working on a budget. Even if you aren’t, umbrella insurance can keep you from paying out-of-pocket for any claims and instances that are a bit much for your regular insurance policy to cover. Even with several different types of commercial policies, such as commercial, auto and real estate liability insurance, there might be some situations where you need a small amount of extra coverage to take the weight and worry off of your shoulders.
Small Business Owners
If you have your own real estate firm or a smaller firm, even the smallest of accidents or incidents can be financially devastating. If you have an auto accident on the way to an open house, the cost of repairing your vehicle and medical bills as well as time off of work can quickly add up, and that’s not to mention if you were found to be at fault for the accident.
Before you dismiss umbrella coverage outright, consider how much it costs and how much you stand to lose without it.