Do I Need Umbrella Insurance For My Small Business?

As a small business owner, you know that it’s important to spend your money wisely. You may be wondering if umbrella insurance is something you really need. At Windermere Insurance, serving Greenwood Lake, NY, we pride ourselves on helping small business owners get coverage that makes sense for them. Let’s talk about umbrella insurance to help you decide if it’s a good fit for you. 

Think about your current insurance policy for your small business. Now, think about things that aren’t covered. This is where umbrella insurance comes in. Much like a physical umbrella, this type of insurance protects you against far more than your standard insurance policy. 

When it comes to determining the cost of umbrella insurance, it’s important to consider your industry. Costs can be higher if you often perform work outside of your office (such as landscaping or construction work on residential homes). Costs may be lower for certain industries, such as retail and restaurants. While your umbrella insurance policy won’t be something you’ll think about on a day to day basis, you’ll breathe a sigh of relief when you encounter a situation not covered by your standard policy. 

If you’re just starting out in your business, umbrella insurance may not be a good fit for you. If you’ve already got a thriving business on your hands, the last thing you want is for a lawsuit to ruin the hard work you’ve invested in growing your brand. At Windermere Insurance, serving Greenwood Lake, NY, we know the ins and outs of umbrella insurance, and we can talk with you to help you decide if this type of coverage makes sense for your business.