Umbrella Coverage Information
Commercial Umbrella coverage does exactly what the name indicates.....it extends additional coverage over all of your underlying commercial insurance coverage's. Those coverage's can include General Liability, Commercial Auto & Professional Liability to name a few.
Commercial Umbrella coverage (sometimes referred to as Excess Coverage), is designed to kick in when an underlying coverage has been exhausted. For example, let's say you have a Commercial Automobile Insurance policy and you are involved in an accident. When the police officer arrives, it is determined that you were "at-fault" in the accident. Let say that the injured party suffered life-altering injuries and would never be able to work again. Needless to say, you are going to get sued.
If your underlying Commercial Automobile Insurance policy has a Combined Single Limit of $1,000,000, yet the judgment against your business is for $2,000,000, the Commercial Umbrella coverage would pick up the additional $1,000,000 that exceeded your Commercial Automobile Insurance limit (assuming you had a minimum of $1,000,000 in Commercial Umbrella coverage).
Any established business looking to protect their business (and future income), should have a Commercial Umbrella policy in place. To get a quote on Commercial Umbrella coverage for your business, click on the link above or call (703) 674-0299 TODAY!