We all know that lawsuits, legal costs, and settlements can reach staggering levels these days. As a result, those sums may far exceed the limits of your commercial general liability coverage. That’s where business umbrella liability protection comes in.

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Umbrella liability insurance is a secondary policy that can cover a broad variety of contingencies—increasing the amount of coverage above that provided by your primary liability policy. Depending on the level of increased coverage you arrange, this excess liability insurance is almost always the most affordable way to arrange higher policy limits.

 

Here’s how it works:

If your company is named in a liability claim that ultimately requires $3 million to settle, and you have a $2 million general liability policy—your insurance carrier would pay the $2 million and without business umbrella liability insurance, your company would be responsible for the balance of $1 million. And that’s an amount that could put most small businesses out of business!

 

Talk with the commercial insurance professionals of the Cushman Insurance Group. We can review your policies and give you a no cost, no obligation recommendation on the protection that’s right for your company—now and into the future.

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