Commercial Umbrella Insurance
Extra Protection That Keeps You In Business.
Commercial umbrella coverage gives you extra liability coverage to help pay costs that exceed your general liability or other liability policy limits. Without this business insurance coverage, you’d have to pay out of pocket for expenses that cost more than your coverage limits, such as :
- Legal fees
- Medical bills
- Damage expenses
A commercial umbrella policy works a lot like personal umbrella insurance, except personal umbrella insurance increases the coverage amounts for your :
- Home insurance
- Renters insurance
- Auto insurance
For example, if you’re in a car accident and the damages exceed your auto insurance limits, a personal umbrella policy can help cover the difference. Or, if you’re sued for your dog biting your neighbor, and their medical costs are more than your homeowners policy limits, umbrella coverage can help.
For added protection, get a business umbrella coverage quote from The CFI Agency
What Does a Commercial Umbrella Policy Cover ?
- A commercial umbrella policy provides extra coverage for certain types of liability insurance by extending your primary policies. That’s important because if you don’t have a policy in the first place, commercial umbrella coverage can’t extend it.
- Insurance companies write umbrella policies with aggregate limits. These limits can range from $1 million to $2 million. This means your insurance company will only cover claims up to that amount.
- It’s also important to know that umbrella insurance doesn't cover every type of liability claim, and it won't extend certain types of liability coverage.
- For instance, if your accountant gets sued for making a mistake on an audit, professional liability coverage can help cover your defense costs. But if these legal costs exceed your professional liability policy limits, commercial umbrella coverage won’t cover the difference.
- Learn more about what coverages umbrella insurance can extend by getting an umbrella insurance quote. You can also work with an experienced insurance agent to get umbrella coverage.
- Protect your business personally and financially with a Commercial Umbrella policy from The CFI Agency