Going the Extra Mile: How Umbrella Insurance Can Protect Your Business and Personal Assets

As a business owner, you understand the importance of protecting your business assets. But have you considered how to protect your personal assets as well? One solution is umbrella insurance.

What is Umbrella Insurance?

Umbrella insurance is an additional layer of liability coverage that sits above your other insurance policies. It provides additional protection for situations where the limits of your primary insurance policies, such as your home or auto insurance, have been exhausted.

For example, imagine you are hosting a company picnic on your property. An attendee is injured after tripping on a tree root and decides to sue you. Your homeowners insurance policy has a liability limit of $300,000, but the lawsuit ends up costing you $450,000. Without umbrella insurance, you would be responsible for paying the remaining $150,000 out of pocket. But with umbrella insurance, your policy’s extra coverage would kick in and cover the remainder of the damages.

The Benefits of Umbrella Insurance

Umbrella insurance is also important for business owners because it can provide additional liability coverage for their business operations as well. It can help protect you and your company from significant financial losses if a legal judgment is made against your business.

Another benefit of umbrella insurance is that it can also provide protection from personal risks that may not be covered under standard policies. These include libel, slander, and false arrest.

Umbrella insurance is relatively inexpensive and can provide a great peace of mind. It’s a smart and cost-effective way to protect yourself and your assets. In case you’re wondering how much umbrella insurance you need, it’s a good idea to speak to your insurance agent or financial advisor and get a proper assessment, considering all your assets, income and future earning capacity.

What Does Umbrella Insurance Cover?

  • Other parties’ funeral costs and injury treatments
  • Others’ property damage
  • Your legal defense costs
  • Liabilities that happen outside of the United States
  • Claims like libel, slander, defamation of character and invasion of privacy

What Does Umbrella Insurance Not Cover?

  • Business losses
  • Intentionally harmful behavior
  • Your own injuries
  • Damage to your personal belongings
  • The liability you assume under a contract

By going the extra mile and getting umbrella insurance, you can ensure that you and your business are fully protected. Don’t let a lawsuit drain your personal assets, consider umbrella insurance today.

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Sherry BermanSherry Berman
17:55 08 Dec 22
We just moved over to e3 with Chris Stone, 1 1/2 years ago. Our house flooded during snowmeggedon in Texas last February. The insurance companies were overwhelmed with phone calls from Texas. Our insurance company was not responding to us on a timely basis, and because of the supply chain shortage, we knew we needed to act quickly. Chris knew who to talk to at our insurance company, and was a total advocate for us and made sure that our needs were being taken care of. Our last insurance agent was the advocate for the insurance company, not us. Chris knows the business inside out. He guided us along the process of what to do. e3 represents many different insurance companies, which gives Chris the ability to guide you into the best policy that meets your needs. He explains the insurance lingo in layman terms, and makes sure that you and your family are protected. My husband and I totally trust Chris to give us the best policy with in our budget.
Andy BermanAndy Berman
21:56 07 Dec 22
e3 Insurance and Chris Stone are simply the best!! After experiencing a flood in our house and a total redo necessary, Chris made the experience completely seamless!! There simply is no one better!!
Alex ThipkhosithkunAlex Thipkhosithkun
19:32 03 Nov 22
I can't say enough good things about Chris at e3 Insurance. He really is an expert in his field and was really helpful and thoughtful through my home and car insurance purchasing experience. But it doesn't stop there. Recently, I was facing a relatively stressful plumbing situation with my newly purchased house and after talking to Chris and putting me in contact with the right people, they had someone come out THAT afternoon-- Amazing!
Austin SandozAustin Sandoz
14:45 06 Oct 22
Chris was a client of mine for a long time. When I reached out to get a quote I was blown away. I found out my brand-new 2022 Jeep was severely underinsured and I had little to no protection for my assets.After comparing my old policy side by side with my new policy he was able to quadruple my coverage and protect my assets for LESS than what I was paying before. When it's done right, it's done right.
Sheryl KlousiaSheryl Klousia
14:29 06 Mar 22
Chris has been extremely helpful in finding us great policies for house and car insurance. He reviews our policy yearly to ensure we are getting the best rate and best coverage… and recommends changing when needed. We are very satisfied with his service… he has saved us so much over the 3 years that we have been with him ! So glad we found him. Our kids all use his services also !

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