Also called an excess liability policy, the commercial umbrella provides excess limits over the general liability, automobile liability and employer’s liability policies. The umbrella policy does not pay until the underlying policy limits are exhausted. This policy is meant for those "what if" moments that will arise every so often. When your regular policy can't cover everything, the umbrella is there to make sure that the excess costs are covered as well.
The commercial umbrella policy affords you higher liability limits for a “worst case scenario” type claim. Sometimes, it's better to have a little extra protection in those scenarios. Commercial Umbrella Insurance is not something to gloss over when you think your business might be prone to claims.
The requirements for excess liability are specific to each insured’s needs. Some may not need an umbrella, others may need $10M in excess liability. Our experts can help you best determine your needs.
Contact our sales team today for a no obligation business insurance consultation. 815-277-8501 or firstname.lastname@example.org.
I have found the Gnade Insurance Group to be exceptionally professional, responsive and courteous in the time that they've provided service to my company. Because of my experience with them pertaining to my business, I have decided to let them handle my personal insurance needs also.
- Rodney Quasny, Proshred, 1/11/2016