Do Your Clients Need Commercial Umbrella Insurance?

Perhaps one of the most important and rewarding parts about working as an insurance agent is helping your clients find the policy that gives them all the coverage they need. If you work with a lot of businesses, it’s imperative that they understand what their current policies cover and whether they could get better protections under a commercial umbrella insurance policy. An umbrella insurance policy essentially provides an extra degree of coverage for excess liability, which can prove useful in any industry or line of work, especially when unexpected events like work accidents tend to occur with some regularity. However, it’s also important for your clients to do a cost-benefit analysis and weigh whether getting this policy would be worth the additional dent in their budget for them. To help them choose whether this policy is right, here are some guiding factors that can make a difference in their decision.

Umbrella Coverage Is Generally Added to Other Policies

Before your clients begin to consider umbrella insurance coverage, it may be helpful to explain to them that this coverage type is generally added to other policies, and does not usually act as a stand-alone policy. For example, if your client already has workers compensation insurance, a general liability policy, and more in place, an umbrella policy could simply help add an extra layer of protection that they might not already be getting through their other policies. This coverage could, for instance, extend to different business locations that they may be operating.

Several Types of Businesses Could Potentially Benefit From Umbrella Insurance

If your clients meet the above recommended guidelines for getting umbrella insurance but aren’t sure whether they should proceed with it because they don’t know whether it applies to their exact type of business, they should know that multiple business types can benefit from this coverage. For example, a partial list of businesses that may want or need umbrella coverage would include:

  • Businesses that own and operate properties visited by the public
  • Businesses that may be close to the limits of their other insurance policies
  • Businesses that send staff to other properties, like staffing agencies, where the risk of injury or damage may be greater

It Provides Extra Protection for Unexpected Occurrences

The ultimate reason many businesses, including your clients, choose to opt for a commercial umbrella policy is that it simply provides extra protection against unexpected occurrences. Business owners can feel at peace that they’ll be protected against excessive financial damages, and so on.

If your clients are on the fence about whether they need or could benefit from an umbrella policy, it’s your role as an insurance agent to help them understand the coverage it offers and whether it’s well suited to their business or not. With this additional information, you can help your clients come to the most fruitful decision.

About AmSuisse

Formed in 2013, AmSuisse, Inc. has quickly distinguished itself as a wholesale operation that specializes in working very closely with our agents and broker partners to develop responsive, individualized service for each client. Our unparalleled writing support, industry-specific expertise, marketing support, responsive proposals and quotes, strong customer service, and strong relationships with our carrier partners have all helped us to provide the best possible coverage for our clients. To learn more about our available coverage, contact us today at (855) 912-8697 to speak with one of our representatives.