Life is complicated, insurance doesn't have to be.
Read time: 2 minutes
You own a business and you’ve worked hard to get it where it
To protect your business, you likely already have a business
insurance policy. You may have heard of a commercial umbrella
insurance policy but aren’t sure if you need one, or what it even is!
In this article we’re tackling your questions about
commercial umbrella insurance policies so you can decide if it’s
right for your business.
What is a commercial umbrella insurance policy?
An umbrella policy for your business provides
additional coverages that can help protect your business in
situations that may not be covered by your business insurance
policy. It can also provide additional policy limits.
What does a commercial umbrella insurance policy cover?
Broadly speaking, a commercial umbrella insurance policy is
usually made up of four core coverages: bodily injury, property
damage, personal injury and advertising injury. There are also
optional, add-on coverages available.
Check out the list of coverage features below along with a
brief description to better understand what a commercial insurance
policy may cover.
A commercial umbrella insurance policy may also include
a waiver of subrogation endorsement that can waive the
insurance company’s right to recover payments from a third party.
You work hard to grow your business. Protecting it with the
coverages that fit your business’s risks is a smart move. To start the
process of finding a commercial umbrella insurance policy that fits
your business best, contact your local, independent agent.
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* Products referenced may not be approved/available in
all states. Limitations and conditions may apply. Premium
will be based on benefits chosen and policy rates available
at time of application.
Disclaimer: This article is not expert
advice. The analysis of coverage is in general
terms and is superseded in all respects by the Insuring
Agreements, Endorsements, Exclusions, Terms and Conditions of
the Policy. Some of the coverage mentioned in this material may
not be applicable in all states or may have to be modified to
conform to applicable state law. Some coverages may have been
eliminated or modified since the publishing of this
material. Discounts may not be available in all states.
Limitations and conditions may apply. Premiums will be based on
benefits chosen. Please check with your local Independent
Auto-Owners Insurance Agent for details.