The Basics of Dry Cleaner Umbrella Insurance
As professionals in the dry cleaning industry, your clients and their employees face many hazards. Property damage, personal injury and ergonomic-related incidents are all associated with dry cleaning processes. Although we offer many coverages to financially protect your dry cleaning clients from these hazards, they still may need additional protection, in the form of Dry Cleaner Umbrella Insurance.
Dry cleaner umbrella insurance is designed to give your clients an extra layer of security, providing them with supplementary coverage for costs associated with lawsuits, legal fees, and settlements. Dry cleaner umbrella insurance can also cover bodily injury and personal property claims that are not otherwise covered by other liability policies such as property, commercial auto, or workers compensation.
Truthfully, all types of businesses can benefit from an umbrella liability policy, but drycleaners especially can. Let’s say that your client was named in a liability claim that required $4 million to settle, and the limit of their Dry Cleaner General Liability policy was $2 million. In this case, they would be covered for $2 million but their business would be responsible for the other $2 million, which can easily be financially devastating for a dry cleaning business.
The most important thing for your clients to remember about dry cleaner umbrella insurance is that it only provides extra coverage over what the original base policy covers. At Irving Weber Associates, Inc. (IWA) we offer the FabriCare Advantage insurance program, including dry cleaner property insurance, business auto, workers compensation, and more. Please contact us today for more information at (855) 764-7406.