An umbrella policy can keep you from fighting in court.
Our insurance experts make it easy to protect your business.
What is a commercial umbrella policy?
Edwards Insurance Agency
A commercial umbrella policy is a form of business liability insurance that provides additional coverage in the event that your business is liable for a claim in excess of your current general liability, business owners, commercial auto, or commercial property insurance. This type of insurance policy also covers attorney fees should you be taken to court.
Does my business need umbrella coverage?
Any business can benefit from purchasing an umbrella policy, but some businesses are at greater risk than others of excessive losses. If you or your business are in any of the situations listed below, you should strongly consider buying an umbrella policy:
Here’s how umbrella insurance works for businesses
Let’s imagine that one of your delivery vehicles is at fault in a multi-car accident that also damages the guardrail on a highway. Your commercial auto insurance has a $1,000,000 coverage limit, but the combined medical bills and damage to the guardrail add up to over $2,000,000.
Your commercial auto insurance will cover the initial $1,000,000. Without a commercial umbrella policy, you’d have to pay out of pocket for the additional $1,000,000. However, with an umbrella policy, you’ll be covered for the full amount that your auto policy doesn’t cover, as well as attorney and legal fees if necessary.
What commercial umbrella insurance does NOT cover
Commercial umbrella insurance does not cover:
What Our Clients are Saying…
Great team looking out for their clients. They are always available to give advice and point you in the right direction with your insurance needs! I know they have my family protected with the right home and auto coverage!
Great team looking out for their clients. They are always available to give advice and point you in the right direction with your insurance needs! I know they have my family protected with the right home and auto coverage! More content here more content here and more content here.