get the right commercial umbrella insurance

When we help our clients with their commercial umbrella policies, we ensure that they are properly protected by boosting their limits with an umbrella policy.

Let us boost your insurance with a commercial umbrella policy. We'll get you a great rate and keep your business going strong.

What is Commercial Umbrella Insurance?

A commercial umbreall policy is is designed to provide protection against catastrophic losses. The umbrella policy serves three purposes: it provides excess limits when the limits of underlying liability policies are exhausted by the payment of claims; it drops down and picks up where the underlying policy leaves off when the aggregate limit of the underlying policy in question is exhausted by the payment of claims; and it provides protection against some claims not covered by the underlying policies, subject to the assumption by the named insured of a self-insured retention (SIR).

Additional Information about Commercial Umbrella Insurance

Businesses that involve hazardous work, such as construction, may need extra protection against lawsuits. Umbrella insurance added to policies like employer’s liability insurance, protects against employee claims that your negligence led to an injury.

Umbrella liability insurance cannot be added to professional liability insurance that covers lawsuits over professional mistakes, including undelivered services and missed deadlines.

Commercial Umbrella Insurance is properly planning for possible risk

When a policy’s limit is met, commercial umbrella insurance gives additional coverage for liability claims made on general liability, commercial auto, or employer’s liability insurance.

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          Preferred Choice Financial Group
          Based on 4 reviews
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          Brandon ELLIS
          Brandon ELLIS
          15:55 31 May 20
          Liam O Brien is fantastic
          alan burchell
          alan burchell
          23:12 09 Dec 19
          i am deeply appreciative of the time and attention that liam gave me and my company. apparently we are not an easy... business model to quickly understand or classify. but where many carriers and insurance advisors passed us up, liam dug in, worked hard to understand us and then patiently explained this to multiple carriers. ultimately he found us the ideal coverage and at a much lower rate than i expected. this was true 5-star customer service. i highly, highly recommend liam and ‘preferred choice financial group’ for anyone looking for more
          Tyler Latray
          Tyler Latray
          15:36 13 Sep 19
          Liam was great at helping get the home coverage policy my family and I needed.
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          Third-party bodily injury

          Employee injury

          Third-party property damage

          Auto accidents

          Doesn't cover:

          Damages within the underlying policy limits

          Employee discrimination lawsuits

          Professional errors

          Business property damage.

          For some companies, business umbrella insurance is mandatory. For example, the federal government requires businesses such as oil companies to have umbrella policies. For the general business owner, business umbrella insurance may not be required unless a contract, client or landlord requests it. 

          However, even if business umbrella insurance is not mandatory, it is a necessary coverage to obtain for your operation. Without coverage it's likely your business would suffer extreme financial loss.

          Your business should have a general liability or business owner's policy in place to start with. If you have company vehicles, titled in the business name then you should also have a business auto policy. Those are the basic policies that a business umbrella policy would go over.  

          Business umbrella insurance provides additional coverage to all the underlying policies that you hold for extra protection. The excess insurance can be anywhere from one million to several million dollars. 

          When your benefits get exhausted by a large claim on your underlying policies, then business umbrella coverage will start. Some business umbrella policies have a deductible that would need to be met prior to coverage starting.

          The cost of business umbrella insurance depends on the type of business and a variety of other factors like size, materials used, and how you run your operations. For a less risky, smaller business the business umbrella premiums can be as low as $500 annually. 

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