There are many individual insurance policies that protect aspects of your life such as your house and car. These insurance policies have a liability portion that protects you from being financially responsible for incidents that are considered your fault, or occur on your property. The liability limits created by these policies depend on the type of insurance you have and several other factors with the policy. It’s possible that the liability limits are not sufficient for the lawsuit that is being put against you. This is particularly true in situations where wrongful death has occurred. Instead of running through your liability limits and having a personal financial impact shape your future, look into personal umbrella insurance.
Umbrella insurance refers to an insurance option that provides additional liability coverage for house and auto insurance. If you run through the limits on your own insurance, the umbrella portion kicks in and covers the rest. This is particularly useful if you have a tragedy occur in a car accident or with your pool or another structure on your property.
When you are setting up personal umbrella insurance, you want to look at the liability perils that it covers. These perils specify exactly what type of claims apply to this insurance option. You don’t want to be in the middle of a lawsuit to discover that your insurance isn’t going to pay the damaged party. That kind of issue leads to bankruptcy and other financial issues in the long run.
Talk to our certified umbrella insurance agents in Astoria, OR to find out the best umbrella options for your life and policies. It’s one of the best ways to keep yourself safe.
Commercial insurance is necessary to keep you in business, since plenty of people are likely to speak up about a company, compared to an individual, if they get hurt on your property or by your products, or if they incur losses due to an error or omission on your part. Finding the best and cheapest commercial insurance products requires a bit of time and research into what your business actually needs in terms of coverage.
All businesses benefit from general commercial liability insurance, as it protects against a number of common perils that every business is affected by in some part. This covers liability issues that stem from injuries on your property, from libel and slander, and other situations in which you are considered financially liable as a company.
Another commercial insurance offering that many businesses need to pay attention to is workers compensation insurance. This is legally required once you meet certain criteria in your business location. If you don’t have it, not only are you on the hook if an employee gets hurt, but also you get fined by the state.
Commercial property insurance has much higher limits than standard residential property insurance, to account for the higher value of the buildings and its contents. Since commercial equipment is often mission-critical and custom-built, having it properly insured helps to protect against business-operation bumps. If you do have equipment that gets damaged, destroyed, or stolen, loss-of-use insurance keeps your cash flow going until you’re back on your feet.
Talk to our experienced business insurance agents to find out about coverage options in Astoria, OR, to keep your business protected and growing strongly.