business insurance in New Mexico
When it comes to shopping for business insurance in New Mexico, many business owners are unaware of what they actually need.

Why General Liability Insurance is Not Always Enough

For many businesses, a general liability policy offers sufficient protection against exposures and lawsuits. However, for many others, general liability business insurance in New Mexico is not nearly enough to protect them from liabilities that threaten their financial stability. For those companies, a commercial umbrella insurance policy may be a necessary investment. Umbrella insurance is just what it sounds like: insurance that provides additional coverage once a general liability policy’s limits are reached, or to cover exposures that other policies don’t or won’t cover. An umbrella policy gives business owners access to higher limits and additional protection from unforeseen risks at an affordable rate. For instance, if your company is sued for $2 million but your general liability policy only covers $1 million, your umbrella policy can cover the additional $1 million in judgment fees, thereby saving you from having to pay for anything out of pocket. For many businesses, this additional coverage can mean the difference between going bankrupt and remaining in business. At the very least, additional coverage can ensure that your financial stability remains intact. When it comes to shopping for business insurance in New Mexico, many business owners are unaware of what they actually need. Most assume that general liability is enough, but often times, it’s not. You cannot know for sure, however, unless you speak with a knowledgeable insurance agent who can help you identify your unique risks and those commonly associated with your industry.

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