The agents of Smart Way Insurance Agency can offer advice to business owners in Sandy, UT who have questions concerning their fleet of vehicles. One of the biggest concerns has to do with how they will cover the cost associated with an accident if their driver is at fault. While their fleet insurance will absorb much of the cost, the amount set aside for liability may not be enough to cover the other driver’s injuries. This is where umbrella insurance is beneficial.
Fleet insurance is purchased to cover vehicles that are used during the daily operation of a business. It repairs damage caused by accidents and will cover the cost of liability within certain limits. These limits are decided upon when the policy is purchased and cover every vehicle within the fleet. If a company vehicle is involved in an accident, the fleet insurance will pay up until the agreed-upon limits.
Umbrella policies work by picking up the additional costs that are incurred above the limits of other types of commercial policies. This keeps a business from suffering financially if an accident drains the entire amount of coverage and still leaves some debts unpaid. An umbrella policy must be purchased in addition to traditional forms of commercial insurance to ensure sufficient coverage.
At Smart Way Insurance Agency, each agent is well-versed in commercial insurance as well as umbrella policies that are designed to fully protect a business’s financial future. If you live in or near Sandy, UT, call and schedule an appointment to have your umbrella insurance policy reviewed and updated if necessary. Making sure your business is fully protected is what it’s all about!