Commercial Umbrella Insurance That Fits Your Needs
Umbrella insurance provides coverage for losses above the limit of an underlying policy or policies such as homeowners and auto insurance. While it applies to losses over the dollar amount in the underlying policies, terms of coverage are sometimes broader than those of underlying policies.
A commercial umbrella policy can help cover claims of:
- Bodily injury, whether it’s an injured customer or employee
- Property damage your business causes to someone else’s belongings
*Commercial umbrella insurance provides additional coverage on top of a general liability policy. So, if you don’t have a general liability policy, you won’t be able to get commercial umbrella insurance.
- Extend the limits of other primary liability insurance policies.
- Avoid paying out of pocket for what your other policies don’t cover.
Frequently Asked Questions
What does commercial umbrella insurance NOT cover?
Commercial umbrella insurance does not cover every kind of claim. It also doesn’t extend the limits of certain types of policies, like commercial property insurance.
Who should purchase commercial umbrella insurance?
If you think the cost of a claim could exceed your current liability limits, buying commercial umbrella insurance is a good idea. This coverage can help if your business:
- Frequently interacts with customers.
- Works on someone else’s property.
- Allows the public to visit during open hours.
How much does commercial umbrella insurance cost?
The cost of your commercial umbrella policy can depend on your:
- Amount of underlying coverage.
- Type of business.
- Business’ size.