What Is A Commercial Umbrella Insurance Policy?
Commercial Umbrella Insurance provides an additional layer of liability coverage that goes beyond the limits of your primary liability insurance policies. It acts as an "umbrella" over your existing policies, offering increased protection in case a claim exceeds the limits of your underlying coverage. Here's a breakdown of the coverage and benefits of Commercial Umbrella Insurance:
Key Features Of A Commercial Umbrella Policy
Enhanced Liability Protection: Our umbrella coverage adds an extra layer of liability coverage on top of your primary policies. If a claim exhausts the limits of your underlying policy, the umbrella policy kicks in to cover the remaining costs, up to its stated limit.
Breadth of Coverage: Umbrella insurance extends across multiple primary liability policies, such as general liability, commercial auto liability, and employer's liability. This comprehensive approach offers a safety net for various aspects of your business operations.
Cost-Effective Solution: Purchasing higher limits on each primary policy can be costly. Commercial Umbrella Insurance offers a cost-effective solution to boost your overall liability coverage without dramatically increasing the premiums of each individual policy.
Legal Defense Costs: In addition to covering the settlement or judgment costs of a claim, the umbrella policy typically covers legal defense expenses. This can include attorney fees, court costs, and related expenses, which can add up significantly in the event of a lawsuit.
Peace of Mind: A commercial umbrella policy provides peace of mind, knowing that your business is safeguarded against substantial claims that could threaten its financial stability.
Asset Protection: It helps protect your business's assets, preventing a single large claim from jeopardizing your financial stability.
Why Choose Kansas Preferred Insurance Group?
Whether you're a small business or a larger corporation, Commercial Umbrella Insurance provides an essential layer of protection against the uncertainties of business operations. Working with a trusted advisor at Kansas Preferred Insurance Group can help you determine the appropriate coverage limits to ensure your business is well-protected against unexpected events that could have a significant financial impact.