Commercial Umbrella Liability
In Today's World, You Need More Than The $1,000,000 Limit On The Basic Policy. Commercial Umbrella Liability will give you extra peace of mind when added to your Business Insurance program. Call us today to discuss adding this coverage to your insurance.
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What is Commercial Umbrella Liability Insurance?
Your Commercial General Liability, Commercial Auto Liability, Employers Liability, Professional Liability and other liability policies are your primary protection for liability claims against your business. These policies will typcially provide coverage for the first $1,000,000 of liability claims.
The Commercial Umbrella Liability policy can provide an additional layer of protection, anywhere from an additional $1,000,000 of coverage to an additional $100,000,000 of coverage.
Why do I need Commercial Umbrella Liability Insurance?
Quite simply, your business could be viewed by a claimant and/or a jury as a deep pocket source for money after an accident. Your business may have substantial assets in the form of real estate, equipment, inventory or vehicles which adds to the perception of a deep pocket.
Legitimate, serious accidents do happen resulting in serous injury or loss of life. Automobile accidents are probably the most common cause of claims that exceed the coverage limits of the primary policy. Damage to other people's property can also be in excess of the $1,000,000 limit of the primary policy, as has been the case with damages from Chinese drywall. A business must be able to withstand these events and continue operations. We recommend the purchase of Commercial Umbrella Liability Insurance to give businesses that extra peace of mind.
The above summary is not a policy and is only intended as a brief presentation of available coverages. The actual insurance policy will provided full details of all benefits, conditions and exclusions.