Torian Insurance offers a variety of commercial umbrella insurance policies to provide you the extra coverage that your regular policies might not.
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In some instances your standard business liability coverage isn’t enough in the case of a lawsuit. Commercial umbrella insurance, sometimes referred to as business umbrella insurance, provides an extra layer of protection for businesses. It kicks in when the limits on your other policies have been reached, and it can help cover the costs like:
While no one likes to think about the possibility of being the victim of a lawsuit, it’s important to be prepared in case it does happen.
You can rest easy with Torian. As independent Insurance agents, we work for YOU, not the insurance companies! Our expert staff has your best interest at heart which means providing the best coverage.
Commercial umbrella insurance is a type of liability insurance that provides coverage above and beyond the limits of your other liability policies, such as your standard business liability policy. Commercial umbrella insurance can help protect your assets in the event that you are sued for damages that exceed the limits of your other policies.
Businesses with any type of exposure to liability risks should consider purchasing commercial umbrella insurance. This includes businesses that own property, have employees, or regularly interact with the public. Even businesses that are careful and have strong safety protocols in place can be sued for damages if someone is injured on their property or as a result of their products or services.
Commercial umbrella insurance provides coverage for everything that your business liability policy covers, just at a higher limit. This includes bodily injury, property damage, defamation, and advertising injuries. Umbrella policies can also provide coverage for certain types of environmental liabilities and employment-related claims.
The cost of commercial umbrella insurance will vary depending on the size and type of your business, the amount of coverage you need, and the level of risk you are comfortable with. However, umbrella policies are typically very affordable, especially when compared to the cost of defending against a lawsuit without insurance.
Commercial umbrella insurance kicks in when the limits of your other liability policies have been exhausted. For example, if you are sued for $500,000 and your business liability policy has a limit of $300,000, your commercial umbrella policy would pay the remaining $200,000.
You can purchase commercial umbrella insurance through most business insurers, such as your business auto or property insurer. You can also purchase standalone umbrella policies from some insurers. Be sure to shop around and find an experienced insurance agency who will take the time to get to know you and your individual needs.