Typically, the more your business interacts with clients and customers, the higher your liability risk is. These risks can be even greater if your employees use heavy machinery or dangerous equipment.
What is Commercial Umbrella Insurance?
Commercial Umbrella coverage gives you extra liability coverage to help pay costs that exceed your General Liability or other liability policy limits. Without this business insurance coverage, you’d have to pay out of pocket for expenses that cost more than your coverage limits.
When Should a Commercial Umbrella Policy Be Considered
Business owners should consider Commercial Umbrella Insurance if they think the cost of a claim could ever exceed their liability limits. Some examples are:
- A visitor to your property slips and falls
- A customer suspected of stealing later proves her innocence and sues for defamation of character.
- An employee falls asleep at the wheel while on company business and collides with another vehicle, resulting in major injury or death.
- Your business frequently interacts with customers.
- Your business is open for the public to visit.
What Standard Commercial Umbrella Policies Cover
A Commercial Umbrella Policy provides extra coverage for certain types of liability insurance by extending your primary policies. That’s important because if you don’t have a policy in the first place, Commercial Umbrella Coverage can’t extend it.
What Standard Commercial Umbrella Policies Do Not Cover
It’s also important to know that Commercial Umbrella Insurance doesn’t cover every type of liability claim, and it won’t extend certain types of liability coverage. Here are some examples:
If Legal Costs Exceeds Your Professional Liability Policy Limits
Does Not Cover Damages To Your Own Home, Car or Personal Possessions
The Right Insurance Policy Begins Here
Begin By Contacting An Agent.
To add this coverage, please get in contact with a Squier Insurance Agent. They will walk you through each step, making sure the coverage you select meets your needs. To begin, please choose one of the options below.
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