Businesses and Professions That Benefit from Umbrella Insurance

Umbrella insurance extends the liability limits of insurance policies owned by businesses and individuals. Given its value, it benefits many businesses and professions by offering a range of protection and does so inexpensively. If you have questions about how umbrella insurance can help you or your company, consider Southwest Insurance Center, which serves the Austin, TX, area.

Which Professions Need Umbrella Insurance?

Umbrella insurance extends the liability coverage of your underlying policies. For example, many businesses carry liability insurance that protects them against potential injuries suffered by customers or others who enter the business’s facilities. Physicians, accountants, lawyers, and others risk having clients slip, fall, and suffer other mishaps while visiting their offices. Likewise, restaurants, retailers, and shops that allow the public on their premises risk similar accidents. If an accident resulted in liabilities exceeding the limits of their liability policy, their umbrella insurance would step in to pay the additional liabilities up to the umbrella policy’s limits.

Another group that benefits from umbrella insurance is businesses that work on property owned by others. Plumbers, electricians, and contractors risk causing injuries to others or damaging property when working onsite. Likewise, businesses that make deliveries, travel to appointments, or drive for other reasons face the liability limits of damage or injuries in motor vehicle accidents.

Other businesses need umbrella insurance to meet their contractual obligations with government agencies and many private companies. Meanwhile, any business that potentially faces legal action for slander, defamation, libel, or actions should consider obtaining the protection offered by umbrella insurance.

Working With Southwest Insurance Center in Austin

The Southwest Insurance Center team serves the insurance needs of individuals and businesses in the Austin, TX, area. Call us today at (512) 280-6100 or use our online appointment process to schedule an appointment.