Commercial Umbrella Insurance
Commercial Umbrella Insurance Information
COMMERCIAL UMBRELLA INSURANCE
Commercial umbrella insurance to extend your business’ liability coverage.
- For example, if a liability claim exceeds the limits of your liability policy, your commercial umbrella insurance can help pay the remaining costs of the claim.
Savvy business owners consider several different commercial insurance policies to protect their businesses. But, what do you do if something happens that results in higher bills than what your current policy covers? Commercial umbrella insurance can come to the rescue under such circumstances.
What are the benefits of commercial umbrella insurance?
Once your claim reaches your policy’s limits, your umbrella insurance helps cover the rest. Think of this policy as a literal umbrella perched above your underlying policies to add an extra layer of protection.
For example, say you have $1 million in coverage from your standard business insurance policies. If you face a legal settlement of $1.5 million, an umbrella policy will cover the additional $500,000.
We live in a litigious society. Lawsuits can cost a business millions. This coverage is a prudent decision to protect you against possible lawsuits. The high costs of a lawsuit can catch a business off-guard. But, umbrella insurance can keep you from permanently closing your doors.
If you want higher policy limits, umbrella insurance is an affordable way to get them. This is because you don’t have to raise the limits on your other individual policies. It is important to know that umbrella insurance will not extend coverage limits on errors and omissions or professional liability policies.
If you like more specific information or need a custom Commercial Umbrella Insurance quote, please:
- Call us at (800) 624-8976, and one of our ECIA Commercial Umbrella Insurance specialists will service your immediate insurance needs,
- Or, complete the contact request form, and one of our ECIA Commercial umbrella Insurance specialists will contact you the same day, or worse case the following day.