Commercial Umbrella / Excess Liability Insurance

Commercial General Liability (CGL) insurance could be the single most important piece of coverage for your business. Claims, lawsuits and litigation happen constantly, and many people are quick to hold businesses responsible for any accident or mishap that could possibly share a portion of the blame. CGL insurance protects you and your business from these claims.

But with these costly claims, what happens if the payout limits of your liability coverage are maxed out? The unfortunate reality is once your general liability policy limits are met, you are responsible for any excess amount.

To avoid paying out of pocket for medical bills, legal fees, or pain and suffering, consider commercial excess liability coverage. This type of coverage—also known as umbrella insurance—protects you from such financial responsibilities. Umbrella insurance picks up where your other liability policies leave off, reducing those crippling out-of-pocket payouts. Remember that in liability lawsuits, it isn’t just what’s in your bank account that you could lose. Other assets—including future income—are also at stake.

Excess Liability Insurance Expands Your Liability Coverage

Umbrella insurance doesn’t only link with your CGL policy, it can also extend your other liability coverages. This includes your commercial auto, employment practices liability and professional liability insurance. Additionally, umbrella insurance doesn’t just extend your liability coverage, it also expands it geographically. If an incident occurs off-site, you’ll be protected.

Likewise, umbrella insurance covers claims of libel and slander—something your CGL policy does not.

Every business is different, and some face more risk than others. To learn more about the value of commercial excess liability insurance, contact the Insurance Center of Winchester at (540) 667-0700, or fill out the form on this page.