Why Small Business Owners Need an Umbrella Policy

Owning a business is definitely a freeing and exciting enterprise for most people. However, what many entrepreneurs don’t realize is that a lot of their small business risk and liability has the potential to carry over into their personal financial lives. That’s why having an umbrella policy from the Insurance Outfit is so important. Keep reading to learn more.

Owning a Small Business in New Jersey Leaves You Open to Risk

Whether you own a restaurant, store, or something else in Chester, NJ, you’ll want to consider the liability risk you routinely have. In some cases, this might mean a customer slipping and falling at your location and suing for injuries. Or it could be a delivery person becoming injured while at your office. There are numerous scenarios that could happen and all of them when you least expect.

An umbrella policy works like a so-called umbrella of liability over your existing policies. If your business coverage runs out and you’re faced with a lawsuit, the opposing counsel is likely to start going after your personal policies or assets. If you have an umbrella policy, you can rest assured that you’ll have more than enough coverage to handle the incident without ever dipping further into your personal bank account.

It All Comes Down to Extra Peace of Mind for Your Family

Having an umbrella policy as a small business owner all comes down to one thing: extra peace of mind for your family. If your business is ever sued or the commercial policies you have turn out to not be enough, an umbrella policy can help keep your family protected from a ruinous lawsuit or other circumstance. 

Are you ready to discuss umbrella insurance options in Chester, NJ? Please contact our team at The Insurance Outfit today for more details.