Your business is your livelihood, and it’s precious not only as a source of income, but also because of the effort you put in to starting it and getting it to thrive. You can’t afford for it all to be ruined because of one little incident. It only makes sense to protect your business the way you would protect any other asset.
A commercial umbrella insurance policy is one way to protect yourself and your business in the San Diego area from a variety of potential lawsuits. It might be hard to imagine you need additional coverage with the other insurance you likely already carry, but commercial umbrella insurance can go above and beyond the limits of your existing policies. A huge lawsuit might exhaust those resources, and the commercial umbrella covers the rest.
There are also a few situations that might not be covered at all by your other insurance. You might rely on a commercial umbrella policy at times like these:
Accidental Falls on Your Property
If someone slips on the ice or trips over a wire or even the threshold of your front door, they might sue you.
Fires That Damage Other Property
We can’t control how a fire spreads, but your commercial umbrella insurance can pay for the damages to other property.
Invasion of Privacy
Often, a lawsuit of this nature could come from a disgruntled employee. Whether or not you’re guilty of invasion of privacy, you’ll have to get a lawyer. A client might also file a lawsuit if you used his or her name or photo for your business without permission.
Carbon Monoxide Leaks
The summary of the Toxicological Profile for Carbon Monoxide by the Agency for Toxic Substances & Disease Registry states that carbon monoxide can cause brain damage or death, and explains when people are most at risk: “The most dangerous levels of carbon monoxide usually occur in indoor air. High levels occur as a result of improperly installed or unvented appliances that burn natural gas, kerosene, or other fuels. These include stoves, furnaces, heaters, and generators.”
Carbon monoxide lawsuits can come down on the owner of the building and/or the people who installed the faulty appliances. Your commercial umbrella policy is there to cover you in the case of such an unfortunate event.
A Product That Causes Illness or Injury
Even though you have tested your products and are committed to their high quality, accidents can happen. If someone gets sick or injured while using your product, they might file a lawsuit.
No matter what type of incident occurs, it will likely require you to get a lawyer. Even if you win your case, you’ll still have to pay the attorney. A commercial umbrella policy can defray some of the legal costs.
Thankfully, these sorts of occasions are rare, but the relatively low cost of commercial umbrella coverage can save you from devastating losses if an accident occurs. All it takes is one incident to destroy everything you’ve worked so hard for.
At Axelrod Insurance Services, we work with you to help determine the right amount of coverage for you, and can guide you toward other policies you might need, like professional liability or commercial property insurance. You’ll breathe a sigh of relief knowing that your business (and, by extension, you and your family) is protected from a variety of unfortunate surprises.
Contact us today with any questions you might have regarding commercial umbrella insurance in San Diego. We’re a locally owned and operated agency with years of experience serving our clients in San Diego, Chula Vista, La Jolla, Escondido, El Cajon, Riverside, and nearby areas, and we look forward to getting to know you and your business.