UMBRELLA / EXCESS LIABILITY INSURANCE
Don’t let coverage gaps in your business’s existing liability policies leave your company at risk; learn how you can get comprehensive protection with commercial umbrella/excess liability insurance.
As a business owner, you probably have all the standard commercial liability coverages in place. However, these policies are subject to certain coverage limits. While you might hate to imagine it, there may come a time when litigation exceeds your liability coverages, leaving you to cover the remaining costs on your own. Should your company be on the receiving end of a particularly extensive liability claim, then your existing liability policies might not offer enough coverage to address the total cost of the claim. This is why it’s so important to have the protection that only commercial umbrella insurance can offer.
Also known as excess liability insurance, umbrella insurance is designed to fill the gaps that coverage limits create. To better understand umbrella insurance, imagine what would happen when if a customer slipped and injured themselves while on your business’s premises. In this case, a liability claim would be imminent. If the injured party required ongoing medical treatment, then the cost of this claim could easily exceed your commercial liability limits. Luckily, having the right umbrella insurance in place would ensure that the cost of this claim did not come out of your company’s accounts.
While commercial umbrella insurance is not a mandatory coverage, getting this type of policy is one of the only ways to ensure that your business has truly comprehensive liability coverage. Not only do they have higher coverage limits than other liability policies, but they also cover a wider range of liability issues as well. If you want to get your company adequate coverage to address all its liability risks, then commercial umbrella insurance is a must.
Do you want to get your business the protection that only umbrella/excess liability insurance can offer? Then look to the experts at Premier Risk, LLC. Our dedicated team of insurance experts is ready to assist you with all your coverage needs. Contact us to get covered today.