Don't leave any aspect of your financial well-being to chance; protect yourself with the right insurance coverage for all your needs.
Commercial Umbrella Insurance
With commercial umbrella insurance, you gain an extra layer of protection, giving you the peace of mind that your business is fully covered, even in the event of a catastrophic claim that could otherwise threaten your financial stability.
Commercial umbrella insurance
As a business owner, you know your assets and reputation are everything. That's why you have insurance policies in place to protect your business from unexpected events and liability claims. But have you ever considered what would happen if a claim exceeded your policy limits? Without the right coverage, your business could face devastating financial losses. That's where commercial umbrella insurance comes in.
Why Does Your Business Need Commercial Umbrella Insurance?
Commercial umbrella insurance is essential for businesses of all sizes and industries. Here's why
Increased protection
Your underlying policies, such as general liability or commercial auto insurance, may not cover all potential claims. With commercial umbrella insurance, you have added protection to cover the gaps in your primary policies.
Risk management
A catastrophic event could put your business at risk of financial ruin. Investing in commercial umbrella insurance allows you to manage your risk and protect your business's future.
Peace of mind
Knowing that you have comprehensive coverage in place can give you peace of mind and allow you to focus on growing your business without worrying about potential financial losses.
What Commercial Umbrella Insurance Covers?
Bodily injury or property damage claims
Legal fees and defense costs for lawsuits
Libel, slander, or defamation claims
Product liability claims
Commercial auto liability claims
How Much Does Commercial Umbrella Insurance Cost?
Commercial umbrella insurance costs vary depending on several factors, including the size and type of your business, your industry and operations, your risk level, and the amount of coverage you need.
An elderly customer is injured after tripping on frayed carpeting while visiting your business. Her medical costs are substantial — and exceed the limits of your liability policy.
Solution
An umbrella policy can help when the costs of a claim surpass the limit of your underlying liability policy.
Commercial auto coverage
Risk Factors
Your employee causes a multi-vehicle accident while driving a company car to a business appointment. The combined medical and repair costs are higher than the limits of your commercial auto policy.
Solution
An umbrella policy can help with liabilities that exceed the limits of your underlying commercial auto policy.
Personal/Advertising Injury coverage
Risk Factors
When a reputation has been damaged, umbrella insurance can help decrease the legal blow.
Solution
It can cover personal injuries like Libel & Slander, Malicious prosecution, wrongful eviction, and advertising injuries like copyright infringement or misappropriation of advertising ideas.
Contractual Liability coverage
Risk Factors
The companies frequently assume a landlord’s tort liability when renting office space.
Solution
This aspect only regards “insured contracts,” such as leases and easements. Commercial umbrella insurance can help you cover legal expenses arising when you accept the tort liability of another responsible party.
Lawsuits coverage
Risk Factors
Legal and defense fees can skyrocket in a heartbeat, and you may need to pay them from your pockets.
Solution
Umbrella insurance can help cover these particular expenses when you are in the middle of a lawsuit.
