Your insurance coverage may not provide enough protection. Review the topics below. Then, determine if umbrella insurance is something that you would like to purchase.
Accident Reports
Review accident reports that were filed previously. If the current insurance coverage does not cover medical expenses and other liabilities, you may want to increase the amount of coverage your business supplies.
Umbrella insurance will protect against lawsuits that are filed. It will cover fees associated with injuries and provide financial assistance for any legal costs you incur.
Risk Factors
Assess the risk factors that could result in you being sued. If you work with dangerous chemicals or use equipment that could cause an injury, the current insurance coverage your place of business is equipped with may not be enough.
Umbrella insurance coverage will protect against unforeseen events. With this type of coverage, you will not be hit with hefty fees you cannot comfortably afford.
Modifications
If you decide to modify your business plan, take the time to assess your insurance coverage. Changes that affect the way that your business is run may require more insurance. An insurance assessment should be performed whenever you plan to change how your business operates.
Purchasing new equipment or modifying the manner in which a service is rendered may prompt you to purchase an umbrella insurance policy.
Contact Griffith Insurance LLP
Now that you have reviewed some situations that may require more insurance coverage contact an agent who serves West Chester, PA. A Griffith Insurance LLP agent will prepare your new umbrella insurance policy.
