When looking into an insurance policy, one of the first things an astute business owner will notice is the general liability limits. A general liability policy will have a cap to the amount the policy will pay per claim and per year. Therefore one question becomes imminent: What can I do if a clam exceeds that limit?
This is the exact reason that every business considers an Umbrella / Excess Liability Insurance policy. The purpose of this policy is to provide your business additional coverage to cover liability claims above the limits of your General Liability policy.
Umbrella / Excess Liability insurance policies are reasonable priced when considering how much additional coverage you get for the premium you pay. Umbrella policies do not pay until your general liability insurance policy limits have been exhausted. Umbrella / Excess Liability Insurance policies are considered extremely affordable for businesses and a value for the money especially when you end up using the policy.
Give your business the coverage it needs with umbrella insurance from the New York City Business Group.