Umbrella insurance offers protection from certain legal challenges, covering lawyers’ fees and court costs, but its primary purpose is to extend the liability limits of personal or commercial insurance policies. Every policy limits the total payments for covered hazards, with the policyholder left responsible for overages. Umbrella insurance steps in when the cap is exceeded by paying for additional liabilities incurred. If you need more information about umbrella insurance and how it can benefit you, talk to Kingston Insurance Agency LLC, serving the South Kingstown, RI, area.
Which Professions Need Umbrella Insurance?
Professionals with office space, such as physicians and lawyers, risk someone falling and becoming injured during an office visit. Auto dealers, restaurants, and retailers that welcome the public to their premises face similar risks.
Occasionally, accidents result in liabilities exceeding the policy limits of those professionals and businesses, leaving them responsible for paying the difference. However, those holding umbrella insurance can rely on the umbrella policy to pay the difference.
Other businesses that benefit from umbrella policies are those whose work occurs on others’ property. Virtually all skilled trades fall into this category. Electricians, roofers, plumbers, and contractors regularly risk damaging property or injuring others. Delivery businesses and anyone operating vehicles for their work face liability for damage or injuries in work-related motor vehicle accidents.
Another category of businesses that need umbrella insurance is those whose contractual obligations with government or private companies require them to carry it.
Working With The Kingston Insurance Agency LLC
The Kingston Insurance Agency LLC team serves the insurance needs of individuals and businesses in the South Kingstown, RI, market. Call (401) 433-9442 or drop by our office to schedule an appointment. We look forward to supporting your insurance needs.