Umbrella Policies

Benefits of Umbrella Insurance

If your business ever faces a liability, your insurance may not provide enough assistance to save it. To get the most coverage, you should consider commercial umbrella insurance. Umbrella insurance boosts your liability limits above and beyond what your other policies provide. It may even cover areas outside your current insurances.

Who Needs Commercial Umbrella Insurance?

Businesses that have a high loss potential should consider adding umbrella insurance to their plan. If you are ever on the receiving end of a lawsuit, know that judgments and settlements are unpredictable, especially in a case with a jury. Having additional insurance coverage will help protect you from losing the business you’ve worked so hard to build. Businesses with a worldwide presence, numerous assets, and large vehicle fleets are especially at risk.

Commercial umbrella insurance also fills in the gaps for what is covered that your other policies may exclude. This insurance can supplement your general liability, professional liability, auto insurance and more. Instead of hoping your insurance will cover you in your time of need, know you’re protected. A complete plan will take care of almost any scenario you can think of, offering your business the protection it needs, and your peace of mind. The policy kicks in once your other limits have been exhausted, or in an instance when your primary insurance won’t foot the bill.

Personal Umbrella Liability

Just as a business may need additional coverage, you may need it on a personal level as well. Personal umbrella policies work much the same way as commercial policies. When the benefits of your other policies are used up, the umbrella insurance is there to offer further support.

Maybe you own a rental property. What would happen if your property caught fire, and it spread to the neighboring residences? Does your current insurance policy offer enough to cover the damages and lawsuits that will surely follow? What if your dog bit a neighbor child, causing injury that needed extensive medical care? Do you have the money to pay out of pocket? For these instances and a multitude of others, umbrella insurance picks up where your other insurances left off. Coverage is usually of the amount of a million dollars and higher limits might be available to you.

For the most complete insurance protection plan, you need to speak with Landmark Risk Management and Insurance. Our team of respected insurance professionals is able to help you customize the best insurance plan to meet your needs. We can assess your underlying policies and recommend umbrella insurance policies as well. For all your insurance needs, contact Landmark! We’re here to answer your questions and get you on the path towards the best coverage you’ve ever had. Contact us today!