Extra Extra Liability Protection

Umbrella liability insurance provides protection above and beyond what's offered by your general liability, auto liability, and employer's liability insurance. It's an inexpensive way to increase your level of protection against someone suing you. Premiums can be as low as $750 per $1,000,000 of coverage.

Consider $1,000,000 a minimum. Think about $2,000,000 - $3,000,000, or more. Review your liability limits as compared to your annual sales and total business value. Think of the daily activities of your business and the accidents or losses that can occur.

Recall that most liability policies have total aggregate limits of coverage so you can use up your insurance if you have multiple claims.

Contractors should be very careful of their liability limits. Look at your exposure to loss. A careless employee with a cigarette burned down a church in my town a few years ago. The total cost of that cigarette was many millions of dollars. It isn't just the "big boys" who cause big losses!

If you manufacture, bottle, or sell booze, try to get your liquor liability insurance included in the umbrella coverage.

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