As an illustration, let’s look at what would happen if you or one of your employees caused an accident that severely injured another person during the course of doing business.
In this scenario, assume your costs and legal fees came to $3 million dollars, which is unfortunately not unreasonable given the high costs of medical expenses, hospitalization costs, attorney fees and legal settlements. If you had $1 million worth of commercial liability insurance and $5 million worth of business umbrella insurance, your liability coverage would protect you as follows:
Source: Trusted Choice
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