Commercial Umbrella Insurance is a form of liability insurance that provides an extra layer of protection for businesses. It kicks in when the limits of other policies, such as general liability and commercial auto insurance, have been exhausted. This type of coverage can provide protection against financial losses caused by lawsuits or accidents, which may be difficult to anticipate. For example, if a company’s legal responsibility exceeds the limit covered by its standard business insurance policy, Commercial Umbrella Insurance can kick in to cover additional costs.
More About Commercial Umbrella Insurance
Commercial Umbrella Insurance also helps protect companies from personal injury claims that arise from employee negligence or alleged discrimination or harassment. This form of coverage can help cover court costs related to settling these types of cases, as well as any awards made to the plaintiff. Companies can also purchase Commercial Umbrella Insurance to cover any losses incurred when working on other people’s property or due to their own negligence. For instance, if a business is sued for damage caused by its product or service, this type of coverage can help cover legal expenses and damages awarded against the company.
In addition to providing financial protection in cases of legal liability, Commercial Umbrella Insurance offers comprehensive coverage that goes beyond what standard policies provide. For example, it can cover incidents such as defamation of character and libel which are not covered by typical business insurance plans. It may also be used to pay medical expenses related to accidents on business premises or at employee events outside the workplace.
Commercial Umbrella Assistance
By offering an extra layer of protection, Commercial Umbrella Insurance can help businesses cover costs related to unexpected incidents and lawsuits. For additional assistance with establishing a commercial umbrella policy, our team is standing by. Call us at the number above or click on the quote button to set up your free consultation.
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