Itemizing the legal expenses your umbrella policy covers will help you be prepared if a customer or employee sues you. Consider the following categories when looking over your insurance policy.
Attorney Services
Your umbrella insurance policy may cover the cost of some of the services your attorney provides. It may cover retainer fees, filing expenses, and consultation fees. It may also reimburse you for the costs of an attorney representing you and your business in court.
Your umbrella insurance paperwork will outline all the attorney services it covers, in depth. It will highlight the cap amount for each coverage type that your umbrella insurance policy provides.
Repair Costs
Umbrella insurance will help you restore personal property that is damaged. If you or one of your employees is found at fault for damaging another person’s property, your umbrella insurance may keep your out-of-pocket costs down.
Itemize the amounts your insurance policy covers. These amounts will include the coverage provided for materials and repair services needed to restore the damaged property.
Medical Expenses
Your umbrella insurance policy will help you pay any medical expenses you are responsible for. If someone becomes sick or injured due to a service or product offered at your place of business, your umbrella insurance can help you handle costs that are directly tied to the incident.
Consult an Insurance Agent
If you need more information about your umbrella insurance policy and coverage amounts, contact one of our Insurance Source Solutions agents. One of our Oklahoma agents can advise you and answer any questions you have.
