Running a business comes with its fair share of risks. No matter how careful you are, accidents, lawsuits, and unexpected situations can still happen. That’s where umbrella insurance comes into play. A safety net that every business owner should seriously consider. At Fuhriman Insurance Agency in Boise, ID, we help businesses of all sizes protect what they’ve worked so hard to build.

What Is Umbrella Insurance?

Think of umbrella insurance as extra coverage that kicks in when your other policies reach their limit. If a major claim or lawsuit goes beyond what your general liability or auto policy covers, umbrella insurance helps fill in the gap. It’s not a standalone policy, but rather an extension that provides broader protection.

Why It Matters for Business Owners

No business is immune to risk. A customer slips and falls, an employee causes a major accident, or a legal dispute escalates—these situations can lead to costs that far exceed your standard policy limits. Without umbrella insurance, your business assets—or even your personal assets—could be on the line. This type of policy gives you peace of mind knowing that you’re covered for the unexpected.

Affordable Protection with Big Benefits

One of the best aspects of umbrella insurance is its cost-effectiveness. For a relatively low premium, you can add a significant layer of protection. It’s a smart investment, especially when you consider the financial damage one large claim could cause.

If you’re unsure whether umbrella insurance is right for your business, let’s talk. Contact Fuhriman Insurance Agency in Boise, ID, today. We’ll help you understand your risks and customize coverage that keeps your business secure, no matter what comes your way.

If you’ve researched umbrella insurance, you know it can protect your assets. Understanding which assets can be frozen and used to pay a debt will help you determine what you need to protect and include in the value when building your policy.

Protection for Real Estate Property

Whether you own one or more residential homes, vacation properties, or rental properties, they can all be used as valuable assets if you’re found liable for damages. Commercial properties and farmland can also be seized, so make sure you calculate the total value of these properties first when establishing your umbrella insurance.

Coverage for Vehicles

The following assets to be seized will be any vehicles you own. This includes vehicles you drive daily, commercial vehicles, and classic cars you might have stored away in your garage. If you own the title to it, it can be seized and used. Remember that recreational vehicles like UTVs, ATVs, and motorcycles are also sizable assets and should be included in your list of vehicles.

Security for Accounts

If you have stock accounts, money markets, and banking accounts, they will also be frozen. The money will be taken out of these accounts first, so it’s vital to know how much you have in these accounts to include it in the list of assets. This can also include any business accounts you have as a business owner. This could be money you’re saving for your family, college tuition, and other things that will be taken and used to repay damages.

Protection for Valuable Collections

If you own any valuable jewelry, art, or other collections, ensure you include that value, too. The government can come into your home and seize all the property inside, having an estate sale with these items to pay off a debt.