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Commercial Umbrella Insurance 101 | Blog



  Commercial Umbrella Insurance 101 All business owners in Pennsylvania need solid, affordable insurance, and many companies require several types. But what happens when something goes wrong and your insurance does not cover it? If the cost of paying for damage to others exceeds your insurance limits, or worse, is excluded by the insurance you have, you could get caught up in potentially devastating costs on your own behalf.

These types of situations can pose a serious financial risk to your business, and this is where commercial umbrella insurance comes in. As the term "umbrella" suggests, a commercial insurance policy can give you extra coverage in different situations, when your regular insurance policy does not cut it.

What is commercial umbrella insurance?

A commercial umbrella insurance is an additional policy that comes into play when the cost of damages for which your company is legally liable exceeds your policy limits, or when you have reached the maximum payout allowed by your operator. In some cases, claims that are not covered by primary insurance at all can be covered by umbrella insurance.

The former type of umbrella insurance is sometimes called excess liability, the latter is often referred to as gap protection.

You can add commercial umbrella insurance to your commercial car coverage, employee compensation or general liability policy.

Commercial Umbrella Insurance extends your liability insurance, so that it can protect you in a variety of situations where you may be held liable for damaging the customer's property, damage that occurs at your workplace or during your work and many other scenarios where you or your The company is the responsible party, even if the damage or damage happens away from your business premises.

Do you need commercial umbrella insurance?

If you have insurance that is meaningful to your business and your risk profile, you should be protected in many situations. But depending on the industry you are in, there is a lot that can go wrong. Just a liability that exceeds your police limits may be enough to make you out of business so it makes sense to at least consider commercial umbrella insurance as part of your business protection portfolio

Commercial umbrella insurance starts when your regular insurance coverage is exhausted and sometimes reaches depleted Excluded situations in many insurance policies, so it is important that you first look at your primary insurance policies. A qualified insurance agent can help you find potential gaps in coverage and determine if a commercial umbrella policy is right for your business. They can also help you decide where, exactly, to extend your coverage and by how much.

For all your corporate insurance questions, call or contact Keller-Brown Insurance Services today.


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