Commercial Umbrella

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Commercial Umbrella Insurance

COMMERCIAL UMBRELLA INSURANCE

Commercial Umbrella (or Excess Liability) insurance provides additional limits of coverage over and above other liability policies.  For example, your Business Auto and Commercial General Liability policies may have $1M limits.  If you want to carry $5M in total limits, then you may need to purchase an Umbrella.

WHY PURCHASE COMMERCIAL UMBRELLA INSURANCE?

In a 2015 report by the Insurance Information Institute, it was shown that $1.5-4.7M was the average amount spent on defense and settlement expenses for professional liability claims. Most insurance policies cap out at $1M per occurrence, so an Umbrella insurance policy can provide the additional protection you need, normally at very affordable prices.

Let's break it down!

Commercial Umbrella (Excess Liability) policies provide additional limits of coverage over and above other liability policies.

COMMON COVERAGE GAPS

Failure to Schedule Underlying Insurance Limits

The most obvious coverage gap for umbrella policies is the failure to schedule the underlying policies.  Similar to this gap, you may also fail to purchase high enough limits in the underlying policies, leaving a gap at the “attachment point”.

OTHER TYPES OF BUSINESS INSURANCE

Commercial Umbrella Insurance, clearly, won’t protect you from every type of exposure your business may face. As a result, there are other types of insurance designed to meet your entire needs.

Here are a few:

 

>> LEARN ABOUT OTHER COMMERCIAL INSURANCE SOLUTIONS

Lets Reduce Your Rates and Improve Coverage

Most people don’t understand their unique risks or their insurance and are therefore buying the wrong coverage and paying too much. If you work with our insurance agency, we will implement our simple 3-step process to identify your key exposures, improve insurance coverage and reduce rates.s.

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