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 email@example.com.
We are very proud to be represented by the Gnade Insurance Group and in particular Jim Smith. This man excels in service to his clients and his fellow man. Jim shows our group what dedication and hard work in the insurance industry and in his community can do for the success of everyone he comes into contact.
- Don Fuller, Nov 11, 2012