A commercial umbrella policy can extend your underlying insurance policy’s limit. If you have general liability insurance and auto liability insurance in a packaged policy, the commercial umbrella policy will pick up coverage when the primary limits are exhausted. For example, an auto accident occurs and you are sued for $1,000,000. If your general/auto liability limit is set at $500,000 your commercial umbrella policy will then pick up where your primary coverage leaves off.

If you’d like to add commercial umbrella insurance to your existing policy or have questions about business insurance, speak to one of our insurance specialists at Van Leer & Edwards today!

What Can Commercial Umbrella Insurance Cover?

It can provide a much-needed buffer for any type of liability insurance such as general liability, auto liability, and liquor liability. There’s also non-commercial umbrella insurance that can be written to extend coverage on a homeowner or personal auto liability policy.

What Commercial Umbrella Insurance Won’t Cover

In most cases, the umbrella or excess liability policy is limited by the coverage from the underlying policy. For instance, if the general liability insurance policy excludes products liability, then the umbrella policy will not cover that exclusion.

Who Needs Commercial Umbrella Insurance?

Commercial umbrella insurance is for any business with assets to protect that exceed the limit of their primary business and auto liability limits. Higher limits may also be required by a vendor that you do business with. Oftentimes, a business will work with a vendor that will require a minimum limit of $5,000,000 or more. In this case, the business must purchase enough commercial umbrella insurance to meet the contract requirements.

If you’re in need of commercial umbrella insurance to satisfy the needs of a
contract, talk to an insurance specialist at Van Leer & Edwards today!

Van Leer & Edwards offers Commercial Umbrella Insurance in Scottsdale, Arizona and to all areas throughout the Valley