Lawsuits are filed EVERY DAY against small businesses.
Insurance Claims that are filed, and deemed to be legitimate, have two primary costs.
- The Actual Damages Of The Claim
- The Legal Fees
Lawsuits can, and do, takes years to finish. Legal Fees can mount at an alarming rate. Once your primary insurance limits are exhausted, YOU are responsible for any costs that exceed those limits.
Our Society is SUE Crazy!
In such a society, the rule of thumb in any lawsuit is to find the “deepest” pockets to go after. It doesn’t matter if you have a multi-million dollar public company, or a “mom & pop” home business, a lawsuit could put your business, out of business!
The fact is, today’s small and medium-sized businesses face the same problems as a Fortune 500 company faces.
The difference is, the Fortune 500 company has enough money to hire the very best legal team(s) to defend a large lawsuit or to simply reach a financial settlement with the person(s) bringing suit against them. Even with these financial resources available, Fortune 500 companies (and most large companies) share something in common…they own Business Umbrella Insurance.
If companies with the financial resources to hire the best legal teams, make settlements to avoid long lawsuits choose to have Business Umbrella Liability Insurance… shouldn’t you?