Corporations Need Umbrella Insurance: Here’s Why

Umbrella insurance is a coverage type that not enough businesses fully understand. However, it provides a broad range of benefits that make it essential for corporations in particular. At Premier Group Insurance, we can help our Lakewood, CO customers understand their business may need this policy. 

How It Protects Corporations 

Umbrella insurance policies are a type of liability coverage that pays for what your traditional policy will not. When your maximum liability payout has been reached, it kicks into play, allowing you to pay for things like court costs, penalties, and more right from your policy. 

This option is critical for more giant corporations because the money exchanged at this level is often remarkably high. Constantly, people attempting to sue corporations aim to get as much cash as possible, causing financial struggles. As a result, it is crucial to know whether this choice is right for you. 

When You Need Umbrella Insurance 

  • High Litigation Risk – Do you work in a firm that is likely to see a lot of litigation? Then, you’ll need an umbrella insurance policy to protect you from what can be very high costs. 
  • Considerable Risk of Injury – Does your firm work in a field that has a high risk of personal injury or property damage? Talk to an insurance agent to get high-quality umbrella insurance protection.
  • Personal Safety Concerns – Has your business experienced concerning issues around personal safety? You may need to seek out an umbrella insurance policy to avoid expensive lawsuit costs. 

Give Your Business a Higher Level of Protection

Do you think that your corporation needs this type of liability coverage? Then please contact us at Premier Group Insurance to learn more about your coverage option. We can provide Lakewood, CO residents with the help that they need to avoid serious long-term ramifications.