This type of insurance is probably one of the most important coverages you can have to protect your business. An umbrella policy will make up for gaps or coverage limitations on existing polices. An umbrella covers any extraordinary losses that exceed the limit on an underlying policy (GL/PL, Commercial Auto, Employers Liability, and more).

This type of insurance is often overlooked. Many businesses start off and purchase all of the underlying policies they need to be compliant with various federal & state agencies, along with contract stipulations. However, as their business grows, they inherently take on more risk via more clients, or more locations, or more products being developed. Whatever, the case might be for your business, the operation may be much larger than it was five years prior, and it may be time to purchase additional insurance limits.

Claim Examples

If your company is found liable for a client’s wrongful death and you are sued for $1.5 million and you only have $1 million in coverage, the umbrella policy with pick up the remaining $500,000.

Your employee was wrongfully injured on the job due to the employer’s negligence, and they hire an attorney. The Workers Comp portion of the coverage paid out medical expenses, but the employee is claiming further damages. Umbrella Liability can provide protection above the customary Employers Liability limits found in the underlying policy.

Coverage Features

  • Limits starting at $1,000,000 and up to $20,000,000 for select companies
  • Little or no deductible (maintenance retentions)
  • Covers multiple lines of underlying policies
  • And much more!

Our insurance agency serves clients in Pennsylvania, New Jersey, Delaware, Maryland, Virginia, North Carolina and surrounding states. We pride ourselves on understanding your industry and providing simple solutions for your insurance program.

Contact us today and find out how we can help reduce your cost, enhance your coverage, or improve your peace of mind!