Business Umbrella Insurance

Business insurance policies have limits that help control your premium costs. In addition, these limits can help insurers fulfill their business responsibilities financially. However, these limits could expose your business to financial loss, because any claims that exceed the amount of a policy’s limit must be either paid for out of your pocket or be unrecoverable. A business umbrella policy can fill the gap that exists between your business’s limits and its potential claims.

Umbrella policies extend the coverage limits of many types of liability insurance policies. For example, it can provide another $1 million of coverage, or more above the limits on your Business Automobile and/or General Liability policies. An example would be if your Business Automobile policy has a $500,000 limit and you injure another person in an accident, the medical expenses and lawsuit could cost much more than that. Having the added protection of a business umbrella policy gives you another $1 million or more to put toward those costs. This protects your assets while satisfying the financial obligations your business may have.

No matter how aggressive your liability insurance policy limits are, the inexpensive addition of business umbrella insurance is a great, affordable way to extend the protection for your business and its future.