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Most business insurance policies—both commercial liability and commercial property—have payout limits. In other words, if your business experiences a loss or disaster that costs more than these payout limits, you’re on the hook for any expenses over that limit.
This is another unexpected expense that could threaten the very survival of your business.
If you have a commercial umbrella insurance policy, it will kick in if your main business insurance policy reaches the payout limit. Your umbrella policy will then pay the remaining costs.
Say you have a liability insurance policy of $500,000, but you experience a claim that will cost $700,000. Without a commercial umbrella policy, you’re responsible for paying $200,000 of those costs. But if you’ve got an umbrella policy, you won’t pay anything.
Furthermore, because there’s a relatively low chance that your commercial umbrella insurance policy will need to pay out, your premiums are likely to be less expensive than you may think.
Give your business assets the protection they deserve with commercial umbrella insurance from Antietam Insurance. Our team of business insurance professionals can help you design a custom policy that meets your needs. Call today for a quote!