On the Fence About Umbrella Insurance? Here are a Few Factors to Consider

At Slaughter Insurance Agency, our team can help your Quinlan, TX business get the protection that it needs with an umbrella policy. If you’re still not quite sure whether this type of insurance works for you, here is how it can benefit you:

Umbrella Policies Offer Extra Liability Support

Umbrella insurance is an expanded form of liability protection that covers what the rest of your policy does not. For example, once you meet your policy limits, umbrella liability covers what may remain in a lawsuit, ensuring that you don’t have to dip into your own pocket to pay these expenses. 

That kind of protection is a great option if you worry about getting sued by your customers. For instance, if you run a business with a potential risk of danger, it’s critical to get umbrella insurance to stay safe. However, there is a simple process that can make this decision much easier.

Knowing If You Need It 

If you are interested in getting an umbrella insurance policy, it’s important to know whether it’s right for you. Most businesses will benefit from this type of policy, though some might not feel comfortable affording it. Here’s a simple way that you can get the help that you need here:

  • Add all of your business’ assets, including stocks, bonds, future earnings, savings accounts, etc. 
  • Calculate whether your insurance policy covers all of your assets or if it doesn’t
  • When your total assets are more than your liability protection, get an umbrella policy 
  • Try to find one that covers at least double your assets to be as safe as possible

Take Care of Your Business

Strong umbrella insurance policies from Slaughter Insurance Agency can help Quinlan, TX area businesses get the help that they need to stay safe. Contact us to learn more about your options, and we’ll seek out an umbrella insurance policy that fits your needs and doesn’t cost you a fortune to maintain.