Seems like the sky’s the limit when it comes to legal settlements. The number of lawsuits filed against companies and the size of the settlements are on the rise. Chances are the amount of liability protection from your general liability insurance, commercial auto insurance, and employer’s liability policy may not provide enough financial protection. This can leave your business open to risk and make your assets vulnerable.
Umbrella Liability insurance can increase your liability protection when a lawsuit maxes out the limits of your current coverage. These days, lawsuits seem to pop up from the most surprising places. An employee driving his own car to a meeting accidentally strikes a pedestrian, and you get sued. A patron slips and falls and injures herself while exiting your business, and you get sued. An advertisement lists the wrong number, causing thousands of annoying phone calls at an unrelated business, and you get sued.