Commercial Umbrella Policy

Commercial Umbrella Insurance protects your business from the financial risk of large lawsuits against your company. It is a form of Liability Insurance that provides additional coverage, which fills in the gaps between existing policies and takes over when the range of your existing policies depletes. Hence, the umbrella policy provides coverage that does not offer an affordable basic liability policy. In other words, this insurance provides businesses with added liability coverage when claims exceed the limits of specific primary insurance policies. Such as General Liability or Commercial Auto Insurance. Moreover, Commercial Umbrella Policy helps to supplement existing insurance policies. The coverage your company needs to depend on the type of business you operate.

How Does Commercial Umbrella Policy Work?

Commercial umbrella insurance can provide both broader and more comprehensive coverage. On the other hand, excess policies are typically plans that duplicate the scope of the underlying policy while adding their excess limits. On the other hand, Umbrella Policies go a step further by giving coverage beyond the underlying policy. And this might be as simple as broadening the scope of motor accident coverage.

To purchase umbrella insurance requires your business to buy primary liability insurance policies such as General Liability and Auto Liability. If your business is found liable for a loss, your direct insurance will pay up to the coverage limits on the primary policy. Then, Commercial Umbrella Insurance pays claims that exceed coverage liability limits from your primary insurance policy.

Choose Commercial Umbrella Policy from Business Insurance Los Angeles

Are you interested in learning more about Commercial Umbrella Insurance Coverage? And how can it protect your organization? Contact us today to get a free, no-obligation quote online in minutes. Call us at 844-234-5600.

Commercial Umbrella Insurance Coverage in Los Angeles

Commercial Umbrella Insurance should provides coverage which does not offer Affordable Basic Liability Policy. Hence, having an umbrella is the most cost-effective way to get higher liability coverage on multiple policies. Moreover, commercial Umbrella Insurance will usually specify the underlying policies that it covers. These policies may include:

Employers Liability Insurance

It can pay Compensation Costs and legal fees if an employee sues for disease, fatality. Or injury resulting from workplace conditions or practices. Furthermore, commercial umbrella insurance extends coverage to help cover not just claims exceeding coverage. But also lawsuit defenses arising from Workers’ Compensation Claims.

Commercial Auto Insurance

Commercial Auto Insurance provides financial protection for business vehicles and its drivers. Hence, it pays for claims arising from accidents involving vehicles used by your business. Moreover, a commercial umbrella policy provides additional protection to the liability portion of the Commercial Auto Policy.

Commercial General Liability (CGL)

Protects your business from a financial loss against liability claims for bodily injury, personal injury and property damage caused by the business operations, products or injury that occurs on the business premises. Moreover, commercial umbrella insurance adds coverage to these liability limits.