Commercial Umbrella Insurance
Providing an extra layer of protection for your business
What is Commercial umbrella Insurance?
Commercial umbrella insurance is a type of liability insurance that provides an additional layer of protection beyond the limits of a business’s underlying liability policies. It essentially sits on top of your general liability, commercial auto, and commercial property insurance. If a claim exhausts the limits of one of these primary policies, commercial umbrella insurance kicks in to cover the remaining costs, up to its own policy limits. This type of insurance is crucial for safeguarding a business from catastrophic claims that could otherwise lead to severe financial distress or even bankruptcy. It offers broader coverage and higher limits, providing a vital safety net for a company facing an expensive and unexpected lawsuit.
How can Commercial umbrella Insurance help your business?
Commercial umbrella insurance is a wise investment for any business that faces significant liability risks. A single, large lawsuit could easily exceed the limits of your primary policies, leaving your business to pay for the remaining damages out of pocket. This could lead to the liquidation of business assets and even bankruptcy. An umbrella policy provides peace of mind by ensuring that you are protected against the most severe financial threats.
Defense When Primary Limits Aren’t Enough
Prepare for the unthinkable. Commercial Umbrella insurance provides the extra layer of defense your business needs across these categories:
Extending Liability Limits
Provides financial protection when catastrophic claims, such as severe injury or major auto accidents, exceed the financial limits of your primary policies.
Boosts Employer Protection
Kicks in when an employee lawsuit for a work-related injury or illness surpasses the limits of your underlying Employer’s Liability coverage.
Catastrophic Claim Defense
Offers broad, high-limit coverage designed to protect your business’s assets from devastating financial loss due to large-scale disasters or massive lawsuits.
