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Coastal Premier Insurance Group, Inc.

902 Clint Moore Rd. Suite 132
Boca Raton, FL 33487

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I Have A Small Home Business. Do I Need Umbrella Insurance?

As a small home business owner, you may think that your homeowner’s insurance policy will cover business-related events that it doesn’t. Some won’t be covered because your homeowner’s policy covers you living in your home, not running a business out of it. Other claims might just be too big for your homeowner’s insurance. You probably don’t want to think about worst-case-scenarios and the risk to your business and assets in the face of a lawsuit, but the fact is, it could happen. And, when big losses occur, they can be absolutely devastating. That’s why excess liability coverage, also known as umbrella insurance, exists.  

Lawsuits Happen

It’s almost impossible to know when a liability claim from your product or service could arise or what people could blame your company for. Society has become sue-happy, often leading to big lawsuits that result in huge financial judgments. Even if your business did nothing wrong, your legal defense fees to prove yourself blameless can be astronomical.  All your assets and life savings – even your Boca Raton, FL home could be at risk if you are found liable and are ordered by the court to pay damages or a settlement. 

Umbrella Insurance Provides Extra Liability Protection 

Umbrella insurance is essentially extra coverage that protects your business from financially devastating lawsuits arising from liability and protects your company from gaps or limits in your existing insurance policies that could leave you open to a big loss. If you have questions about the gaps or limits in your existing insurance policies, ask the experts at Coastal Premier Insurance Group to review your policies. 

How Much Umbrella Coverage Does My Business Need? 

Every business is different. The amount of umbrella coverage your small home business needs will depend on your company’s assets and what’s at stake in the event of a big claim.  If you live in the Boca Raton, FL area, Coastal Premier Insurance Group can help tailor an umbrella insurance policy that will protect you, your business, and your assets. Give us a call today!