Limit your out of pocket if you face liability claims.
Excess Liability Insurance
Commercial Umbrella Liability insurance gives you extra coverage to help pay for costs that exceed certain liability policy limits. Without this type of commercial insurance coverage, you'd have to pay out of pocket for liability claims that cost more than your coverage limits, including legal costs, medical bills, damage to other people's property, judgments and settlements, and more. Any business that is potentially at risk of exceeding the limits of their existing liability policies should consider commercial umbrella insurance.
What Is Covered?
- Bodily injury, whether it's an injured customer or employee
- Property damage your business causes to someone else's belongings
Commercial Umbrella Limits
Insurance companies write umbrella policies with aggregate limits. These limits can range from $1 million to $15 million. This means your insurance company will only cover claims up to that amount.
What's Not Covered?
Commercial umbrella insurance doesn't cover every kind of claim. It also doesn't extend the limits of certain types of policies, like commercial property insurance.
Note: Be aware that commercial umbrella insurance provides additional coverage on top of your general liability policy. So you need general liability insurance to get commercial umbrella insurance.
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