My customers often ask me to explain umbrella coverage to them. If you have an auto and home policy, umbrella coverage can provide you with extra coverage on top of your existing auto and home policies, in areas where your limits are set. This can help supplement your existing policies to provide additional personal liability protection. If there’s anything you don’t understand about your coverage, I’m here to help.
Insurance needs vary greatly and it is best to get advice from an insurance broker or agent who is familiar with your specific type of business. Below are different types of insurance that may apply to your business. Insurance for owners, partners and key employees The loss of a key person can devastate your business and your livelihood. These types of insurance can help protect your business and your family from potential risks: Life insurance — Protects your family in the event that something happens to you. This is especially important in the case of a sole proprietorship, because the owner is personally liable for all the debts of the business. Disability insurance — Will provide you with income for a specified period of time, if you are unable to work due to an injury or illness. Partnership insurance or buy-sell insurance — If your business partner passes away, partnership insurance will allow you to purchase the shares and continue running the business. Critical ill...
Comments
Post a Comment