Commercial Umbrella

Enhance your business protection with our commercial umbrella insurance, providing extra liability coverage beyond standard policies. Safeguard against large claims and potential lawsuits.

Commercial umbrella insurance, also known as excess liability insurance, is a type of insurance that provides an extra layer of liability coverage beyond the limits of your primary liability policies. It is designed to protect your business from major lawsuits or claims that exceed the limits of your primary insurance policies.

Key Benefits:

Additional Liability Coverage: If a lawsuit or claim exceeds the limits of your general liability, auto liability, or other primary insurance policies, a commercial umbrella policy can provide additional coverage.
Protection Against Catastrophic Claims: Commercial umbrella insurance helps protect your business from financially devastating claims that could potentially threaten its operations or assets.
Coverage for Various Liabilities: It can extend coverage to a wide range of liabilities, including bodily injury, property damage, libel, slander, false advertising, and more.
Legal Defense Costs: In addition to the coverage amount, umbrella insurance often covers legal defense costs, which can be substantial even if you ultimately win the case.

How Commercial Umbrella Insurance Works:

Let’s say you have a general liability policy with a coverage limit of $1 million, and you are faced with a lawsuit that results in a $1.5 million settlement. Without commercial umbrella insurance, you would be responsible for the additional $500,000. However, if you have a commercial umbrella policy with a coverage limit of $2 million, it could cover the remaining $500,000.

Who Needs Commercial Umbrella Insurance:

Any business that wants an extra layer of protection beyond the limits of their primary liability insurance policies can benefit from commercial umbrella insurance. It is especially important for businesses with higher risk exposures, valuable assets, or significant public exposure.

Cost and Coverage:

The cost of commercial umbrella insurance depends on various factors, including the type of business, the amount of coverage needed, and the level of risk associated with the business. Generally, the cost is relatively affordable compared to the additional coverage it provides.

Commercial umbrella insurance is an essential safety net for businesses looking to protect themselves from major lawsuits and claims that could exceed their primary liability coverage limits. By adding this extra layer of coverage, businesses can have peace of mind knowing they have an added buffer against catastrophic financial losses.