In Mapleton, UT, business owners who offer company cars to their employees must also carry liability coverage on their fleet of vehicles. The agents at Maple Mountain Insurance Services are available to assist local companies in getting the coverage they need to protect their business if an accident occurs. An umbrella policy will go above and beyond monetary limits that a liability policy may have in place.
Liability insurance is designed to cover the cost of replacing another person’s vehicle or property in the event of an accident. Liability coverage must also be in place to cover the other person’s medical bills if they are injured during the accident. Many liability policies have coverage limits of $100,000 or less. In some cases, this may not be adequate to compensate the injured party fully.
Exceeding the Limits of Your Basic Policy
When your actual liability exceeds the limits of your basic policy, an umbrella policy will cover the additional cost. Umbrella policies are designed to protect your business from the financial cost of a devastating accident. By including the extra expense, it prevents you from taking money away from costs to maintain the business and its day to day operations.
If you have questions concerning umbrella insurance and whether it would benefit you to supplement your existing coverage, call the agents of Maple Mountain Insurance Services. We serve businesses throughout the Mapleton, UT area, and can provide you with the answers you are looking for. Don’t wait to make your appointment! Talk to an agent today to make sure your business is fully protected from financial loss.