Commercial Umbrella Insurance provides businesses with additional liability coverage to help protect them against the potentially ruinous costs of claims. Significant assets can be at risk when companies are the target of lawsuits. If the claimed loss exceeds the limits of a business’s underlying primary insurance policies (general liability), Commercial Umbrella Insurance extends liability coverage for an added layer of insurance to provide extra protection for their business assets.
Without Commercial Umbrella Insurance, business owners could be forced to pay out of pocket for things like legal fees, medical bills, and damage expenses that surpass the underlying limits of their primary business coverages. Take, for example, an advertising error results in a massive lawsuit against your company. The costs exceed the coverage limits on your primary business liability insurance.