Business Umbrella Liability

What is business umbrella liability insurance?

Business Umbrella Liability Insurance protects you when accidents happen and your existing liability insurance policies do not cover all of the expenses. Standard business liability coverage will take care of you in most situations.  When serious situations arise, a business umbrella policy is an inexpensive option to provide extra coverage against bodily injury and/or property damage, and ensure that that your business is protected from serious financial loss.

Why buy business umbrella liability insurance?

If your business was named in a liability claim for $2 million, and the limit of your general liability policy is $1 million, your insurance company would have to pay $1 million and your business be responsible for the other $1 million.

The main benefit of purchasing Umbrella Insurance, rather than opting for higher limits on your existing policies, is that Umbrella Insurance tends to be more cost-effective: you can spend less each month on premium payments to enjoy significantly greater insurance protection. In addition, you can expand your coverage limits on several policies through a single Umbrella policy. For example, instead of investing in higher limits on General Liability, Auto Liability, and Employer’s Liability policies, you could invest in a single Umbrella Liability policy that offers extended coverage on all three.