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Excess insurance can be a lifesaver for a business if a major event occurs. The agents of McCormick Insurance Inc. offer excess insurance for companies that require an additional layer of protection. Business owners in Pembroke Pines, FL who want to make sure their business has the protection it needs to recover from a traumatic experience. Excess insurance can provide the support your business needs during a difficult time.
When Damages Exceed Your Policy Limits
Excess insurance covers the cost of damages that exceed your company’s policy limits or a specified amount that has been designated for unexpected emergencies. Policies are normally written to cover certain types of damage in specific amounts. There are instances in which the actual costs associated with the incident may far exceed the constraints of your commercial policy.
Protecting Your Assets
Choosing to purchase excess insurance gives you the advantage if, for any reason, you experience a disaster that far surpasses your expectations. A policy that covers an excess amount over and above what your policy allows for can protect you from having to liquidate your assets to pay for the additional costs. Excess insurance may also be able to provide sufficient coverage even if your traditional commercial policy won’t.
In Pembroke Pines, FL, the agents of McCormick Insurance Inc. can explain the concepts behind excess insurance. They can break down both the pros and cons of having this type of policy and how it can keep your business functioning if a catastrophic event occurs. Call your agent as soon as possible to find out what type of business will benefit the most from an excess insurance policy. Your agent can explain the details and give you the information you need.