Commercial Umbrella Insurance is designed to protect your business' assets when accidents occur and your existing commercial liability insurance policies have exceeded its total limits. Standard commercial liability coverage can protect you in most situations, but when serious situations arise, Commercial Umbrella Insurance will help ensure that your business is protected against any potential loss that may harm your business. While no one wants accidents to happen, they do - people and business' sue. Here are a few possibilities:
A Commercial Umbrella Insurance policy only picks up when your general liability, commercial auto liability or other liability coverage limits are exhausted. Commercial Umbrella Insurance is an inexpensive way to provide an extra layer of liability coverage against bodily injury and/or property damage.
Here's an example: If your current standard commercial liability policy covers your business up to $1 million and your business is successfully sued for $1.5, your Commercial Umbrella Insurance policy can pay the outstanding $500,000 - which is a lot less painful than having it come out of your business profits.
How much Commercial Umbrella Insurance does your business need? A variety of factors goes into determining the answer, such as the type of business you own and how much coverage your business currently carriers.
If you would like an analysis of your current Commercial Umbrella Insurance Policy/Coverages, or need to secure a Commercial Umbrella Insurance policy right away, Prime Star Insurance Services is there to help. Our dedicated and experienced licensed Agent's are standing by to help you find the best coverages available in the market so that you can feel secure that your business is protected against any potential risk that may possibly harm your business. Contact us today for your free consultation.