Commercial Umbrella Insurance

A commercial umbrella policy provides protection when other liability insurance limits have been exceeded. It extends the limit and takes over and compliments the standard liability limit when it has been reached. As the last defense, it extends an underlying policy.

     A million-dollar umbrella policy typically costs a few hundred dollars a year; an additional million dollars coverage can generally be added for about seventy-five dollars, so umbrella policies are relatively inexpensive compared to other insurance.

Lawsuits and Umbrella coverage

In our litigious society, any suit that exceeds your standard liability limits can be ruinous. Say, one of your employees, while driving for your company critically injuries a person, If you are sued for an amount that exceeds your general liability policy you could lose your business, as well as your home, and possibly be responsible for paying garnished profits for years.  A commercial umbrella can protect you from such a possibility.

Customizing your policy

The umbrella policy can be customized for the risks of your particular business, as businesses have different risks. Businesses that are open to the public, businesses where employees drive their own cars, or businesses that work with wealthy clients who require higher limits to cover their losses are examples of the different types of risks that an umbrella would cover.