Umbrella PoliciesUMBRELLA POLICIES

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Commercial Umbrella Policies

Edwards Insurance Agency

Commercial umbrella policies provide an extra layer of protection on top of other types of business insurance. If you want to be sure that your business is completely protected against financially devastating claims, an umbrella policy can give you peace of mind.

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Protection from lawsuits

An umbrella policy can keep you from fighting in court.

For Any Business

Any business is at risk for being sued for damage and loss.

Personalized service

Our insurance experts make it easy to protect your business.

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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:

  • You contract with the government

    Often times, government contractors are required to carry an umbrella policy. Check with the city or town you’re working with or with the State of South Carolina to find out if you’re required to purchase umbrella insurance.

  • Your business is open to the public

    Having the public on your property opens your business up to lawsuits, such as if someone is injured in your store or restaurant.

  • Your employees provide service at customer homes

    Accidental property damage to a customer’s home or business, including landscaping, water lines, electrical and plumbing, and more, can open you up to heavy lawsuits.

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:

  • Errors and Omissions

    Losses from mistakes need to be covered with an errors and omissions policy.

  • Property Losses

    Commercial property insurance is necessary to cover your business’ property in the case of loss, theft or damage.

  • Illegal Activities

    If your business or one of its employees breaks the law and is sued, an umbrella policy does not cover resulting fines or lawsuits.

Know for sure that your business is covered – Call us!

Edwards Insurance agents help business owners all over South Carolina and the Greenville area protect their assets with commercial umbrella insurance. Call us today for more information and a quote.

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.

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