How much insurance do you need? Are your business assets more at risk based on what you do, what you produce, build or drive? Quite often the limits of insurance available on standard general liability, auto or employers liability policies are not enough to satisfy your unique business risks or contract requirements. Thankfully large claims and lawsuits are not an everyday occurrence, however when they happen they can devastate a business.
This is where the commercial umbrella policy comes into play. The umbrella provides an extra layer of insurance protection. Limits start at $1,000,000 and can run upwards of $10,000,000. If you exhaust the limits of an underlying insurance policy, your umbrella policy will drop down and continue the defense and any resulting judgments. The commercial umbrella is a good risk management tool because it provides supplementary coverage for a relatively small premium.