As a business owner, you work hard to build and protect your company. But what happens when a major liability claim exceeds the limits of your existing insurance policies? A commercial umbrella policy provides an extra layer of protection that can help safeguard your business from catastrophic financial loss.
At Mountain Lakes Insurance, we help businesses in Cherokee County, Cobb County, and surrounding areas secure umbrella liability coverage that complements their existing policies. This added protection can be the difference between recovering from a claim and risking everything you have built.
What Is a Commercial Umbrella Policy?
A commercial umbrella policy is designed to extend the liability limits of your primary business insurance policies. It provides additional coverage when a claim exceeds the limits of your:
- General Liability Insurance
- Commercial Auto Insurance
- Employer’s Liability (in some cases)
- Other qualifying underlying policies
This policy helps cover expenses such as medical bills, property damage, legal defense costs, and settlements that go beyond your standard policy limits.
When Does a Commercial Umbrella Policy Apply?
Here are a few examples of how umbrella coverage can protect your business:
- A company driver causes a multi-vehicle accident, and the damages exceed your commercial auto liability limit of $1 million.
- Your business manufactures or sells a product that causes injury, and the resulting lawsuit surpasses your general liability coverage.
- A customer slips and falls on your property, and the medical and legal costs exceed your existing liability limits.
Without umbrella coverage, your business would be responsible for paying the difference out of pocket. This could lead to severe financial strain or even the loss of your business.
Why Your Business Might Need Umbrella Coverage
If your business owns vehicles, interacts with the public, manufactures products, or provides services that carry risk, umbrella insurance is worth considering. It is especially important for businesses with:
- High public exposure
- Multiple employees
- Significant assets
- Commercial vehicles
- Physical locations open to the public
Our experienced agents will help you evaluate your risk and determine the right level of umbrella coverage for your industry and operations.
Frequently Asked Questions
Yes. Even small businesses can face large claims, especially if they host events, serve the public, or operate vehicles. Umbrella coverage adds an extra layer of protection.
See what independent coverage can do for you
Whether you're comparing quotes or have questions about your current policy, we're here to help. Use the online tool below to explore your insurance options at your convenience, or give our Woodstock office a call to speak directly with a local agent who understands your needs. At Mountain Lakes Insurance, we make it easy to find the right coverage with the personal touch you deserve.
