Commercial umbrella coverage gives you extra liability coverage to help pay costs that exceed your general liability or other liability policy limits. A commercial umbrella policy provides extra coverage for certain types of liability insurance by extending your primary policies. That’s important because if you don’t have a policy in the first place, commercial umbrella coverage can’t extend it.
Insurance companies write umbrella policies with aggregate limits. These limits can range from $1 million to $2 million. This means your insurance company will only cover claims up to that amount.
It’s also important to know that umbrella insurance doesn’t cover every type of liability claim, and it won’t extend certain types of liability coverage.
For instance, if your accountant gets sued for making a mistake on an audit, professional liability coverage can help cover your defense costs. But if these legal costs exceed your professional liability policy limits, commercial umbrella coverage won’t cover the difference.
See how we can help protect your business by getting an umbrella insurance quote today.
Insurance services provided by CoverEase Insurance Services, LLC and its licensed agents and affiliates. The information contained within these materials are confidential and not to be distributed. Descriptions are general in nature only. Please refer to the terms and conditions of policies offered or purchased. Insurance products are subject to application and underwriting requirements. Pricing depends on a variety of factors including policyholder location. Not all discounts available in all states. Not all products available in all states. Use of and access to this information, site or any of the links contained within this site does not create a relationship between the user and CoverEase. © 2022 CoverEase, Inc. All Rights Reserved.
