Just as there is additional liability insurance coverage available for you as an individual through the purchase of an “umbrella” policy, there is also additional liability insurance coverage available for businesses.
Excess Liability or Umbrella Liability insurance for businesses is designed to provide additional liability coverage in excess of your existing coverage. Excess Liability or Umbrella Liability insurance provides additional coverage against bodily injury and/or property damage, and picks up where your business auto liability, general liability or other liability coverage leaves off. Your excess or umbrella carrier can differ from your general liability carrier, and the following items can be scheduled on your umbrella: general liability, workers’ compensation, business automobile coverage, employee benefits, employment practices, etc. The premium for the umbrella is determined based on the desired limits and the premium for the underlying general liability policy.
Contact your insurance agent to inquire as to whether your business could benefit from an umbrella policy.