In addition, umbrella insurance may provide coverage for areas where you are not insured, coming into effect once a certain deductible is met. This coverage is almost always worth considering since it provides a valuable safety net for you and your business. However, umbrella policies are often not standard and there can be exceptions to coverage. In situations such as the destruction of your business location, this coverage could provide you with the resources to take care of utilities, payroll, loans, and other obligations while the business is in the process of being restored. Commercial auto insurance serves as protection against liability for bodily injury and property damage relative to your ownership, maintenance, or use of vehicles involved in doing business.
Coverage also includes attorney fees, court costs and payment to the injured person.
Trucks, certain motorized equipment, buses, and many types of vehicles can all be afforded coverage, in addition to the standard automobile. You may also need non-owned and hired auto liability coverage for vehicles your employees use or that you rent or borrow. Product liability insurance covers products you may manufacture or sell, or covers your services if you are, for instance, a mechanic or house painter. These policies add another layer of protection should a product liability suit arise, generally have low costs, and have become common practice for companies in food retailing, wholesaling, marketing and manufacturing. Errors and Omissions covers inadvertent mistakes or failures that cause injury to a third party.