Business Owners: How to Handle Insurance Risks

Business Owners: How to Handle Insurance Risks

Business Insurance and Umbrella Policies Can Protect Your Assets
Kip Doyle
contractor at work

Small business owners take plenty of risks. Whether you are a plumber, a contractor or a private accountant, when you decide to break out on your own, the last thing you want to do is hang your personal assets in the balance.

According to Stacey McConnell, vice president of insurance for AAA Western and Central New York, people who run their own businesses have special insurance needs. 

Business-related insurance issues are unlikely to be covered by homeowners insurance. Other policy types, like business general liability insurance and commercial property insurance, may be more appropriate depending on the type of business you operate.

"Every business has different risks to cover, especially small businesses," McConnell said. "Business owners who are now operating from home should speak to an insurance agent to cover all their bases."

With each business being unique, AAA offers a number of business insurance products, including: 

  • General Liability
  • Business Property
  • Business Owner’s Package
  • Commercial Auto
  • Workers’ Compensation
  • Commercial Umbrella

How an Umbrella Policy Can Help

An umbrella policy can add an additional layer of protection for your business. An umbrella policy can supplement your liability coverage and your existing auto policy for additional protection. You’ll generally be protected up to the limits of your policy from bodily injury, property damage and personal injury damages such as libel or slander claimed by others.

To purchase a AAA personal umbrella policy you must have both your auto and home insurance policies with AAA.


AAA's insurance team is ready to help you with your unique insurance needs. To learn more about insurance coverage from AAA, call (866) 874-7222 or visit
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