Business Line Insurance
Umbrella liability insurance protects you when accidents happen and your existing liability insurance policies cannot cover all expenses. Standard business liability coverage will take care of you in most situations, but when serious situations arise, umbrella liability insurance will help ensure that your business is protected. While no one wants accidents to happen, they do - and people sue.
are a few possibilities:
• Your company holiday party gets out of hand resulting in various injuries and damages
• Your building has a carbon monoxide leak that results in multiple injuries and/or deaths
• Your business fails to render the appropriate professional services
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 coverage can pay the outstanding $500,000—which is a lot less painful than having it come out of your business profits.