When is an umbrella policy too much?

The agents of Five Star Insurance Agency serve businesses throughout the Woodbridge and Fords, NJ area. They offer many different types of commercial insurance coverage, including umbrella policies for those that need them. With all of the different types of commercial insurance available, it can be difficult for a business owner to know what they need to protect their company and financial stability.

What is an Umbrella Policy?

An umbrella policy is an insurance policy that includes many different types of coverage. This kind of policy will also pick up coverage where other policies leave off. An excellent example of this is liability coverage. If your company’s liability coverage falls short when covering a client’s injuries, the umbrella policy will cover the overage preventing the extra from coming out of company funds. Basically, an umbrella policy offers comprehensive coverage.

What Type of Company Benefits From Umbrella Coverage?

Umbrella insurance was created to help large companies sufficiently protect themselves from various types of loss. This includes theft, liability, vehicle insurance for companies that own vehicles, life insurance, and, in many cases, worker’s compensation insurance. A small business that only has limited liability, no vehicles, and very few employees may not need umbrella coverage. Separate policies may be better suited for the size of the business and its financial needs.

If you own a business in Woodbridge or Fords, NJ and have questions about commercial insurance, especially umbrella policies, contact the agents at Five Star Insurance Agency today. We can evaluate your company’s insurance needs and make sure you have the right types of coverage to protect your livelihood. Don’t wait! Call our office today!