Commercial Umbrella Liability can be your most important insurance policy. That’s because it only comes into play after a catastrophic liability claim. The umbrella policy lies on top of your other liability coverage, including General and Auto Liability. If the primary coverage is exhausted, the umbrella steps in. Limits start at $1,000,000 and go up from there. Major corporations often have umbrella limits in the hundreds of millions! While you may not need that much coverage, a business umbrella policy makes good sense.
Some types of coverage are not automatically included in a Commercial Umbrella. This includes coverage like Professional Liability or Employment Practices Liability. It’s important to work with a Professional agent to make sure you are getting the coverage you need.
A Commercial Umbrella policy starts at $500 annually for $1,000,000 coverage and premiums increase based on the size of your company and the type of business you operate.
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