Umbrella Coverage can Minimize Your Out-of-Pocket Settlement Payment
Lawsuits can be expensive and financially devastating. A commercial umbrella policy provides an additional layer of coverage beyond your other insurance policies.
A business umbrella policy picks up where your business auto liability, general liability or other liability coverage stops. Umbrella insurance is an inexpensive way to provide extra coverage against bodily injury and/or property damage.
Example
If your current policy covers you for $1 million and you are successfully sued for $1.5 million, your business umbrella insurance coverage can pay the outstanding $500,000 — and that’s $500,000 that doesn’t have to come out of your business profits