Insurance Success Tip #3 – Buy High Limits of Liability Insurance

Do not skimp on liability insurance limits.

A $1,000,000 umbrella liability policy is a “must-have” for all businesses.

For companies over ten employees, my recommendation is at least $3,000,000.

For most small businesses $5,000,000 is quite affordable.

Best approach: have your agent quote $1 million, $3 million, and $5 million. You will be surprised at how inexpensive the coverage is.

Make your decision based on the value of the coverage compared to the premium charged.