What Does an Umbrella Policy Cover?

Umbrella policies are highly flexible and cover a broad range of liability claims, including:

• Bodily Injury Liability: Covers claims related to third-party injuries that exceed your General Liability policy limits.
• Property Damage Liability: Extends coverage for damages your business may cause to someone else’s property.
• Personal and Advertising Injury: Protects against claims involving defamation, libel, and other reputational harms not fully covered by primary policies.
• Auto Liability: Offers additional coverage for large auto accident claims that exceed your Commercial Auto policy.
• Employer’s Liability: Supplements Workers' Compensation by providing added protection for employer liability claims.

Typical Coverage Limits for Umbrella Policies

Umbrella policies generally start with coverage limits of $1,000,000 and can be increased depending on your business needs. Common options include:

• $1,000,000 Coverage: Standard limit for businesses needing basic additional protection.
• $3,000,000 Coverage: Ideal for businesses with moderate risk exposure requiring higher limits.
• $5,000,000 and Up: Recommended for businesses with significant assets or high liability exposure.

Why Consider an Umbrella Policy?

Umbrella Insurance is crucial for businesses seeking comprehensive liability protection. Key benefits include:

• Enhanced Security: Provides reassurance that your business is protected against large or unexpected claims.
• Reduced Out-of-Pocket Costs: Limits the financial impact of claims that could exceed standard policy limits.
• Broader Coverage: Offers coverage for certain claims not included in primary policies.

Examples of When an Umbrella Policy is Useful

Umbrella policies are designed to handle high-cost liability scenarios, such as:

• Major Accidents: A significant injury claim resulting from a customer accident on your premises exceeds your General Liability limit.
• High-Value Property Damage: Your company’s actions accidentally damage a client’s expensive property, exceeding the Property Damage limit.
• Auto Accident Claims: An accident involving one of your commercial vehicles results in injuries and property damage costs that surpass your auto policy limits.

Getting a Quote for an Umbrella Insurance Policy

Our agents would love to help you find the right Umbrella Policy for your business needs. To provide a customized quote, please prepare the following information:

• Current Coverage Details: Information on existing policies, including General Liability, Auto, and Employer’s Liability limits.
• Business Assets: Total value of assets and property that need additional liability protection.
• Annual Revenue: Your business’s annual income to determine coverage needs.
• Risk Exposure: Types of liability risks your business faces based on operations and industry.

Why Choose Us for Your Umbrella Policy?

• Customizable Coverage: Our agents tailor policies to fit your business’s specific liability exposure and needs.
• Affordable Options: We offer competitive rates to protect your business without overextending your budget.
• Expert Guidance: Our agents would love to help you navigate your options and choose the best Umbrella Policy for comprehensive protection.