Umbrella liability insurance is an extra insurance policy that covers some expenses not covered by other liability insurance policies. 

Standard business liability coverage will protect you in many situations, but when serious situations arise, umbrella liability insurance can help ensure that your business is protected. Accidents are unexpected and often unavoidable. Here are a few of the many situations that may happen:

• Your business fails to provide the appropriate professional services
• Your company holiday party gets out of hand resulting in property damage
• Your building has a fire that results in multiple injuries and/or deaths

Cover your business with umbrella liability insurance

A business umbrella policy picks up where your business auto liability, general liability or other liability coverage exceeds its limits. Umbrella insurance is a cost-effective way to provide extra coverage against bodily injury and/or property damage.

For example, if your current policy protects your business for up to $2 million and you are successfully sued for $3 million, your business umbrella coverage can pay the outstanding $1 million. Otherwise, the difference would very likely come out of your business profits or your pocket.

It’s there when you need it

The umbrella policy only comes into play when your basic insurance policies have met maximum payouts. That means that you may go for years without having to use the umbrella policy. But, it's there in case you need it, helping to mitigate risk.

Taking the initiative to carry an umbrella insurance policy is a smart way to provide extra protection for yourself and your business.

Footnote: This is a brief overview of Commercial Umbrella Insurance. You should read a policy thoroughly before purchasing any insurance policy.