Commercial Umbrella Insurance

Commercial Umbrella Insurance is meant to help businesses cover expenses that exceed their other insurance policies coverage. It is not meant to replace other business insurance, but as a safety net. Umbrella policies can help supplement other insurance policies, such as:

  • Professional and General Liability
  • Commercial Auto
  • Property Insurance
  • Cyber Liability

Don’t make a mistake by thinking that your business doesn’t need Umbrella Insurance. Unexpected things happen every day. What will you do when tragedy strikes and your business insurance won’t cover the damages? This is where Commercial Umbrella Insurance can save your business.

Here are some things that you need to ask your insurance company to make sure that you are getting the right Commercial Umbrella Insurance for your business:

  • How much coverage will I receive?As we mentioned earlier, Umbrella Insurance is not meant to replace your business insurance. Small businesses will not need as much insurance as large ones. However, it’s better to be safe than sorry. Don’t be afraid to ask a professional to help you evaluate how much Umbrella Insurance your need to protect your business.
  • What is the deductible?Ideally, your Umbrella Insurance should kick in as soon as your other insurance policy reaches its limit. This doesn’t have to be true. While it’s important to know your insurance policies’ limits, it’s also important to know when it will kick in. In the end, you might not be able to get around spending some of your own funds.
  • How much will it cost?Umbrella Insurance provides crucial protection, but that doesn’t mean that you have to empty your pockets for that protection. Most insurance companies provide a variety of discounts for their clients. You might qualify for multiple discounts, but you’ll never know unless you ask your insurance agent.
  • What types of incidents will it cover?Most Umbrella Insurance policies are comprehensive. That means that you should be able to use your Umbrella Insurance for anything that you need it for. However, some insurance companies may only offer you non-comprehensive Umbrella Polices. We here at SOGO believe that you deserve the bets Umbrella Insurance you can find. Don’t settle for less. Make sure that you know what your Umbrella Insurance will and will not cover.
  • What is the claims process?It’s important that you understand your insurance company’s entire claims process. This could make all the difference when you need immediate access to your Umbrella Policy. Write down who to call to make a claim, what information they will need, what the next step will be, and how long the entire claims process will take, and make sure that you keep this information in a safe and easily accessible place.

Our purpose here at SOGO is to help all of our clients find the right insurance policies at the right prices. Call us today if you need help purchasing an Umbrella Policy to protect your business.