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.
For 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 − which is less painful than having it come out of your business profits.
If you’re wondering how much is enough when it comes to umbrella insurance, talk to your Professional Solutions broker. We can provide some guidelines that will help protect your assets.