Protecting your business from catastrophic losses – Commercial Umbrella Insurance in Pasadena, CA.
Like a personal umbrella, a business umbrella policy can help protect your business from a large loss and could even save a business from financial catastrophe. Oftentimes a commercial umbrella policy can be the difference of staying in business or going out of business.
If your business is involved in a loss, your general liability policy will pay out first, up to the policy limits, then any excess would go onto your commercial umbrella insurance policy. For instance, if your general liability limit is $300,000 and you’re sued for $275,000 + $100,000 in attorney’s fees = $375,000 you have a $75,000 overage. Your umbrella policy could help pay for the $75,000 excess cost. It is wise to protect your business from excess exposure with an umbrella or excess liability insurance policy.
Depending on the type of business that you own, some contracts with clients will require high limits of liability.
It is important to discuss with a FIA Insurance Services, Inc. agent what the best coverage is for you on a commercial umbrella policy. Ask a FIA Insurance Services, Inc. agent about Excess Liability Coverage today. (626) 795-7059