Commercial Umbrella Insurance

It’s crucial to understand possible liabilities that could lead to costly lawsuits and significant financial losses for your business. Given the potential consequences of being liable for others’ losses, simply having some form of insurance may not be sufficient; ensuring you have enough coverage is crucial. Fortunately, commercial umbrella insurance can often provide the necessary aid.

What Is Commercial Umbrella Insurance?

Also known as business umbrella insurance, commercial umbrella coverage can generally be considered a secondary layer of liability protection. These policies can fill coverage gaps that may remain following the exhaustion of other forms of liability insurance. As such, the right policy may make all the difference following particularly significant incidents.

What Does Commercial Umbrella Insurance Cover?

Commercial umbrella insurance may help pay for other parties’ losses and damages for which you are at fault. Should an incident’s losses exceed the policy limits of other forms of liability insurance, such as general liability insurance and commercial auto liability coverage, commercial umbrella insurance can provide additional aid. Specifically, claims may be filed to assist with the following:

• Medical expenses arising from third-party bodily injuries
• Repair or replacement costs for third-party property damage
• Legal expenses and losses arising from personal and advertising injuries (e.g., slander, libel and copyright infringement)

How Much Commercial Umbrella Insurance Do I Need?

Your business’s commercial umbrella insurance needs are unique. You should work with a qualified insurance professional, such as those at Buschbach Insurance, to assess them accurately. In many cases, the following may influence the type and amount of commercial umbrella insurance suitable for your company:

• Industry
• Location
• Type of business
• Number of employees
• Years in business
• Assets and revenue

Get the Right Coverage

Having served businesses in the Oak Lawn, Illinois, area since 1958, the dedicated team at Buschbach Insurance has the knowledge and experience needed to help you secure the right commercial umbrella coverage. Contact us today to get a personalized quote.