What is Commercial Umbrella Insurance?

As a business owner, you risk experiencing losses at your company that are greater than your current liability policies will cover. A commercial umbrella policy will lower your chances of being involved in a claim that will significantly impact your business.

 

Commercial umbrella insurance serves to provide an additional layer of liability protection for your business in the event of a loss that exceeds the limits of your current General Liability, Auto Liability, Workers Compensation, and other policies. If you have a $2 million limit on your general liability policy and the costs of a claim end up adding up to $2.7 million, your commercial umbrella policy will step in to make up the $700k difference.

It’s important to note that a commercial umbrella insurance policy cannot be purchased on its own; you need to already have a liability policy such as general liability or commercial auto before trying to purchase umbrella coverage. Every business should have at least a general liability policy, so this should not be an issue.

You can purchase a commercial umbrella policy with $1 million of coverage for about $1,000 in premium per year depending on the size, location, and nature of your business. It’s a small price to pay for the peace of mind of knowing that your business can still thrive even after a large claim!

There are many situations in which a commercial umbrella policy could come in handy and save you from paying a huge sum of money in the event of a claim or lawsuit. Below are a couple of examples:

  • There’s a rainstorm over the weekend which leads to a leak in the ceiling at your place of business. You call maintenance in to fix the problem, but before they get there, a customer slips and falls on your floor. Their medical expenses surpass the limits you have in place with your general liability policy, so you’d be forced to pay out of pocket without a commercial umbrella policy.
  • You are in a car accident and the occupants of the other car have severe injuries that exceed the coverage on your commercial auto policy. Your commercial umbrella policy would kick in for the additional amount of the loss.

Anyone can benefit from umbrella insurance, especially considering one liability lawsuit can put a huge dent in your company’s profits. Risk Averse Insurance is an independent insurance company in Delaware County, PA, so we can shop for the best price for a commercial umbrella insurance policy for you. Give us a call at (610) 335-1139 to protect your business and its assets!

Call Risk Averse Insurance in Media, PA to discuss commercial umbrella insurance for your business.

Risk Averse Insurance is an insurance agency in Delaware County that specializes in providing high-quality insurance products at an affordable price.

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Don and Megan were extremely helpful and a pleasant to work with. Highly recommend. They went above and beyond to get me insured quickly and at a really good rate.
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Susan Young
Our construction company recently switched over to Risk Averse Insurance. We moved all of our policies over to this company. Our agent, Don Blizzard, was amazing! He was upfront and explained everything to us so we understood what we were getting. He made the process very easy and the turn around was very fast! There were no issues! Not only did we get great deals, we got better coverage than we ever had. I would definitely recommend this company! They are the best!
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Kelly Robb
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Louis Litwin
Louis Litwin
Just had to file a big claim for a stolen vehicle full of all my professional equipment----the policy they wrote allowed me to get real value back for my stolen equipment so I can come back even stronger!! Big thanks to my agent Don Blizzard for doing such a great job!
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Ed Sheridan
Don Blizzard is my agent with Risk Averse and he is absolutely the best. He is quick to respond with any questions or concerns I may have, gets me my certs way faster than expected, and is great at explaining things in a way that a layman can understand. I highly recommend Don and Risk Averse Insurance.
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Sean Carter
Don is a great insurance guy he dose my personal and business insurance every time I call he answers and takes time to answer all my questions and guides me in the right steps
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Blaine Kunselman
I have been using them for over 5 years now and I'm very happy with the service; they always do the best to get me the best and current up-to-date deals and excellent to deal with. I recommend.
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Chauncey Brown Jr.
Ive worked with Don for the last few year's. When I started my buisness I knew I needed help and didn't know where to start.I knew I needed an absolute beast of an agent and every other owner/ operator I talked too said if "You don't have Don Blizzard as an agent then you dont have the best agent. "He took a chance and helped me grow my buisness to where its at today. Riskaverse is the absolute best and since starting my buisness all my insurance is through them with help from Don Blizzard. He has a way to explain it to me where I understand my coverage and exposure and the commercial side including Meghan are the absolute best at getting COI'S sent to potential clients within minutes of requesting the copy.Hands down I only go where Don goes and I know whatever policies are written and where my coverage goes my loyalty will always lay with Don.He took a chance and grew with me and I'm forever grateful to all the staff at RiskAverse for being family and buisness friendly and not looking at me as a number or a client but actually caring and finding us the best for which suits our needs.#TeamDonBlizzard #TeamRiskAverse#TeamMegan
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I work with Don. He has helped lots of my family and friends for their business and personal insurance. He is super responsive, honest, and hardworking to make sure you are fully taken care of in every aspect of your policy. He cares a great deal about each unique situation. I am fully confident anytime I refer Don.
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Allison Parasink
The best I've ever used. Don and the team make u feel protected and being able to lay your head on your pillow at night knowing you are protected is worth more than gold.
Dolans Bar
Dolans Bar
Don and his team have been great to work with and always very accessible which is important when dealing with the stress of getting your insurance set up and doing it right. Highly recommend!
Ryan Callahan
Ryan Callahan
I had the best experience. Don helped me with both auto and homeowners insurance in getting us the best price with great service. Highly recommend!
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Gloria McAllister
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joanne kelly
Highly recommend!
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