Umbrella liability insurance provides an extra layer of protection against bodily injury and/or property damage. Essentially, it picks up where your business auto liability, general liability or other liability coverage stops.

How commercial umbrella insurance works

A commercial umbrella policy serves 2 distinct purposes:
  • It increases the liability limit that your company already has in existing, or underlying, liability policies. For instance, if your general liability policy offers $1 million coverage per occurrence or $2 million total, you could get a $2 million umbrella policy and increase those limits to $3 million per occurrence and $4 million total.
  • It broadens coverage for things that your underlying policies may not cover. For instance, if your auto liability policy covers accidents that might occur in a specific area, an umbrella policy could expand the coverage territory.

Customize your umbrella policy to fit your business

Here’s what you need to provide for a customized umbrella policy quote.
  • The financial and operational details of your business
  • A copy of the declaration page of your current general liability and business auto insurance policies (if you have them)
  • Any prior losses your company has experienced. Keep in mind that a loss doesn’t necessarily mean your premium will be higher
  • A list of your company’s officers, their positions and experience, if they’re different from the owners of record
  • Annual payroll and a breakdown of employees who are full-time, part-time, subcontractors or consultants

Be sure to mention whether you carry professional liability, errors or omissions liability, liquor liability, employee benefits liability or employment practices liability insurance.


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