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  • Commercial Umbrella Insurance: What You Need to Know
    Game Plan

    Commercial Umbrella Insurance - Surprisingly Affordable

    Because any underlying policy limits are used first, insurers typically can write commercial umbrella policies at relatively low rates. This means you’d be able to increase the coverage of several critical policies while controlling your premium costs. Umbrella insurance is cheaper than traditional liability coverage—plus, it carries no deductible when it kicks in after your primary insurance has been exhausted.

    A typical umbrella policy begins with a $1 million limit; you could potentially go as high as $10 million or more, depending on your business’ risk environment.

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    Game Plan

    • Policy terms and limits will vary; work with your insurance professional to secure the policy that best fits your business’ needs.
    • When shopping around for the best policy, remember that it’s possible to have a commercial umbrella policy issued by one insurance company to extend the liability coverage of policies you may hold with other companies. Flexibility is key here. But you should also stay focused on the coverage limits and exclusions. Make sure the policy you purchase complements your existing coverage and addresses the same provisions.