Ohio Commercial Umbrella Policy

As an Ohio business owner, you already have as much insurance as you can afford. You have the basics covered -- general liability and property insurance, as well as more specialized forms of coverage like cyber liability, crime, and coverage specific to your industry. That means you’re covered, right? The reality is that it only takes one catastrophic accident and a too-large liability claim to bankrupt your business. That’s where an Ohio Commercial Umbrella policy becomes a lifeline.

Your liability coverages all have a policy limit. In most cases, a single incident will be well within these limits. A claim is filed, maybe there’s a lawsuit, and your insurance covers the costs on your behalf.

But what about an auto accident in your work truck? You didn’t mean to run the red light, but you did. Four vehicles and multiple injuries are involved. It’s a big one. Your policy limit might not be enough to cover this one.

Imagine your product causes multiple illnesses or injuries in and around Ohio and beyond. It was never your intention, and you fixed the problem immediately. But the damage is done, and the liability claims are piling up.

It’s these once-in-a-lifetime calamities that can ruin your business. But it’s also where an Ohio Umbrella Insurance policy can save your business.

Your liability coverage will pay up to your limit policy. In a major accident, without an umbrella policy you’ll have to pay the remaining amount of the claim that your insurance didn’t cover. An umbrella policy is additional liability insurance that will pay what your basic insurance can’t cover, up to its own policy limit.

Because umbrella insurance isn’t something that’s used all the time, it’s easy to buy $1 or $5 million in coverage for a reasonable price. When you’re facing a major liability claim and potential lawsuit, you’ll be grateful for the extra coverage.

No one plans for small accidents, but we buy insurance policies to guard against them anyway. And no one ever sees the once-in-a-lifetime accidents coming, either. But you can purchase an Ohio Umbrella Insurance policy to protect yourself and your business.

Contact SFM Insurance today to discuss your options and how best to protect your company from whatever the future holds.