Commercial Umbrella Insurance
Blanket coverage to catch the overflow.
It only takes one lawsuit.
Despite having individual insurance policies for every business risk you face, one lawsuit can surpass your limits of liability.
If someone is injured on your property, or because of an accident you caused, you’ll likely be held liable. And, what if the settlement or judgment costs more than your policies cover? How will you pay?
A Commercial Umbrella policy provides extra liability protection by responding in addition to all your business insurance policies.
Owning several businesses, having a lot of employees, or even the type of business you operate, can all increase your risk of being targeted in a lawsuit.
The greater the perceived wealth, the more likely you are to be targeted in a lawsuit.
Did You Know?
What's covered, and what's not?
Offering protection from life’s unexpected storms. Get your questions answered here.
How much will the Commercial Umbrella policy cover?
A Commercial Umbrella policy kicks in once your base liability policy limits have been exhausted, or at times, if the claim is excluded from your base policy. Once the limits of your Commercial Umbrella policy are exhausted, you’re responsible to pay the remainder of the claim out of pocket.
If you’re found not responsible, does the Commercial Umbrella policy still pay your legal expenses?
Yes. A Commercial Umbrella policy will defend you, even from a frivolous lawsuit.
What’s covered by a Commercial Umbrella policy?
- Legal defense fees
- Attorney fees
- Monetary judgments/settlements
- Medical bills, including therapies
- Lost wages for the injured
- International Coverage
What’s NOT covered?
- Injury to the insured. A Commercial Umbrella policy only covers bodily injury or property damage to others, not yourself.
- Intentional acts. If you harm or injure someone intentionally (not including self-defense), the resulting claim will not be covered by a Commercial Umbrella policy.
- Personal actions. Commercial Umbrella policies do not cover you personally. Instead, personal liability policies exist for this purpose, such as your personal Homeowners policy and Personal Umbrella policy.
What types of claims fall under Commercial Umbrella coverage?
- Bodily injury
- Property damage
- Invasion of Privacy