Unfortunate events can happen to any business, some of which may result in injuries to customers, vendors, or others. And if an incident like this occurs, your small business could face a lawsuit and significant tort costs of $1 million or more. While your primary coverage can help with these costs, how would your business fare financially if it needed to cover a significant amount out-of-pocket? Umbrella insurance provides additional coverage over your existing commercial auto and general liability policies and can help safeguard your business in the event of a large loss.
U.S. Chamber Institute for Legal Reform. “Tort Liability Costs for Small Business.” https://www.uschamber.com/tort-liability-costs-small-business
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