Commercial Umbrella Insurance

• Extended Coverage Limits: It provides additional coverage when the costs of a lawsuit exceed the limits of your primary insurance policies, ensuring your business remains financially secure.
• Broad Protection: This insurance covers a range of incidents, including catastrophic events, that might otherwise be financially overwhelming.
• Enhanced Credibility: Carrying Commercial Umbrella Insurance demonstrates to clients, partners, and investors that your business is serious about risk management.

• Excess Liability: It increases the liability coverage limits beyond what your primary policies offer for lawsuits involving injuries, property damage, and certain types of legal disputes.
• Legal Fees and Settlement Costs: Helps cover the additional legal fees and settlements that exceed your primary policy limits.
• Unforeseen Liability Claims: Protects against unexpected claims that might not be fully covered under standard policies.

• Intentional or Criminal Acts: Damages or liabilities resulting from intentional misconduct or illegal activities are not covered.
• Employment Practices: Issues such as wrongful termination, harassment, or other employment-related claims often require specific Employment Practices Liability Insurance.
• Professional Errors: Mistakes in professional services need to be covered by Professional Liability or Errors & Omissions Insurance.

The cost of Commercial Umbrella Insurance is influenced by several factors, including:

• Underlying Policy Limits: Higher limits on your primary policies can reduce the cost of umbrella coverage.
• Business Size and Industry: Larger businesses and those in higher-risk industries typically face higher premiums.
• Claims History: A history of claims can increase the cost of obtaining umbrella insurance.