Firearms Insurance Agent Blog

What Does An “Umbrella Insurance Policy” Mean?

When it comes to insurance, there a wide range of phrases and policies that most people are either unaware of, or don’t know exactly what they entail. One of the terms that gets thrown around a bit but many people aren’t familiar with is umbrella policies.

What is an umbrella insurance policy?

This type of policy is also known as extra liability insurance. That means it will protect your business from major claims and lawsuits to ensure your company’s future is never in jeopardy. It does this by providing additional liability coverage above the limits of your insurance policies and by providing coverage for claims that may be excluded by other liability policies.

This means you, as a business owner, would be protected if anyone is injured, causes damage to your property, or if you are sued for personal liability incidents, such as libel or slander.

Benefits of umbrella policies

Therefore, as an owner of a business, it is important to realize the benefit of having an umbrella policy in place. This especially holds true for any firearm businesses. No matter how well someone might know how to discharge a firearm, accidents happen. As such, it’s important to make sure you’re covered from the fallout of an accident or incident happening on your property.

You’re also covered if by chance someone discharges a firearm and it breaks a light or window. Your umbrella policy will kick and get things back to normal.

Therefore, if you’re in the firearm business and you’re looking for a new policy that will keep you and your company protected, trust the experts at Associated Services in Insurance. For over 10 years, we’ve been helping firearm businesses find the best insurance policy to ensure their success. If you would like more information on our services, feel free to call us at 816-229-4450 or toll-free at 877-776-4015!