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Does My Business Need Commercial Umbrella Insurance?

Accidents happen, and the resulting damage, medical costs, and other costs could exceed your business’ insurance limits. Consider this scenario: one of your employees is driving to a job site, and they hit a car with multiple occupants who all get seriously injured. Your company could be held liable for the occupants’ medical costs, loss of wages, and additional costs – all of which could add up to a potentially devastating expense.

Commercial Umbrella insurance offers higher limits of liability than the coverage offered by your business’ General Liability, Commercial Auto, or Employer’s Practices Liability policies for a modest price. This coverage can help fill gaps in your coverage and keep your business protected.

When evaluating whether or not your business needs Commercial Umbrella insurance, consider your risk and contractual requirements. Some contracts may require your company to have this coverage. For instance, if you’re working with a government entity, your contract likely requires your company to have Commercial Umbrella insurance.

To learn more about Commercial Umbrella insurance and to discuss your business’ coverage needs, contact your Independent Insurance Agent.