You may ask: "Why can't I just expand my general liability insurance rather than buy an umbrella insurance?" You'll save more in premiums when you opt for an umbrella policy than if you were to expand your primary coverage. A large firm can pay over $3,000 a year for general liability coverage of $1 million. If you need another million, an umbrella policy can only cost below $1,000. Overall, umbrella insurance is a great way to reduce insurance expenses while expanding a company's protective field. As secondary coverage, umbrella policies won't take effect until the primary coverage is exhausted, making them rather affordable. Trusted insurance companies in NJ such as InsureYourCompany.com suggest buying an umbrella to keep you dry during a legal storm.
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