Brown-Hurst Insurance Agency Inc. provides two types of umbrella insurance to Iowa residents. These are commercial and personal umbrella insurance. Depending on your situation, you may need one or both types. This blog will help you understand these two types of insurance and determine which one or both you need.
Commercial Umbrella Insurance
Some businesses carry a higher liability risk than others. For instance, professionals like doctors, dentists, chiropractors, lawyers, and certain business consultants face potential lawsuits due to malpractice. These professionals often opt for maximum malpractice coverage. However, adding umbrella coverage can ensure the business doesn’t have to pay out of pocket if a lawsuit occurs. Commercial umbrella insurance protects all employees in the business, not just the owner.
Personal Umbrella Insurance
Consider a personal umbrella policy if you engage in high-risk liability personal activities. This could include coaching children or teens in sports or running a home-based hobby or business that involves other people, such as yoga classes or a consultancy where clients visit your home. Individuals who volunteer in community activities, like planning and executing community events, or those who volunteer for political campaigns also need umbrella coverage.
Contact Brown-Hurst Insurance Agency Today
We live in a society where lawsuits are common. Your altruism or the nature of your service business in Iowa can increase the risk of being sued for malpractice. Let Brown-Hurst Insurance Agency Inc. help you protect your financial assets with an umbrella policy.
Contact us today to find out whether you need commercial, personal, or both types of umbrella insurance. If you run a high-liability risk business, such as a law firm, and you volunteer in your community, you likely need both types of insurance.
