Commercial Umbrella Insurance
Commercial umbrella insurance helps businesses cover expenses that exceed their other insurance policies coverage. It is not meant to replace business insurance, but as a safety net.
Here are some questions you need to ask your insurance company:
- 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 is better to be safe than sorry.
- What is the deductible? Ideally, your umbrella insurance should kick in as soon as your other insurance policy reaches its limit. This does not have to be true. While it is important to know your insurance policy’s limits, it is also important to know when it will kick in.
- How much will it cost? Most insurance companies provide a variety of discounts for their clients. You might qualify for multiple discounts.
- What types of incidents will it cover? Most Umbrella Insurance policies are comprehensive. However, some insurance companies may only offer you non-comprehensive polices. Make sure that you know what your umbrella insurance will and will not cover.
- What is the claims process? Write down who to call to make a claim, what information they will need, what the next step will be, and the length of the claims process.
Our purpose is to help all of our clients find the right insurance policies at the right prices. Call us if you need help purchasing an umbrella policy to protect your business.