518-608-5797 Facebook Twitter Linkedin Google+ YouTube Blog


mobile-callClick to Call
Twin Bridges Insurance Agency

1881 Western Avenue, Suite 210
Albany, NY 12203

google-mapGet Directions
Family in automobile

Does Your Business in Albany, NY Need an Umbrella Insurance Policy?

If you currently own and operate a business, then it’s probably safe to assume that your business in Albany, NY, is properly insured with business insurance. However, have you ever wondered if that coverage was enough? What would happen if you encountered a loss that exceeding the current limits of your business coverage? Although you may think it would never happen to you, you can’t predict the future and the last thing you want is for your successful business to fail. Luckily, you have an option: umbrella coverage.

What Is a Commercial Umbrella Policy?

Essentially, an umbrella policy for your business is designed to provide an extra security blanket in the event that an adversity occurs, such as a lawsuit due to breach of contract, wrongful termination or bodily injury.

Why You May Need Umbrella Coverage

Let’s say that your current business insurance would cover $2 million in a general liability lawsuit. However, the settlement requires that you cough up $5 million. This means that you are left responsible for paying an additional $3 million. If you have an umbrella liability insurance policy, then it will cover that $3 million, assuming that the policy is at least $3 million.

Ultimately, it’s your decision whether you want to spend extra money on a separate umbrella policy to complement your regular insurance coverage. However, if a major loss occurs unexpectedly and you aren’t prepared, you could lose your business. Therefore, you may want to take the time to learn more about umbrella coverage and how it can benefit your business as a whole. For more information, contact our commercial insurance agents who serve the 12203 community in New York and can get you quotes umbrella insurance policy.