General Liability and Commercial Umbrella
General Liability, also known as “commercial liability insurance” is a broad commercial insurance policy that covers general liability exposures of a business. C.K. Ash Insurance recommends that all businesses have general liability coverage in place to protect your business’s assets. Some common protections in General Liability include:
- Bodily Injury
- Personal Injury
- Advertising Injury
- Property Damage
Commercial Umbrella & Excess Liability
If umbrella policies are good for individuals, then they are imperative for business. Liability limits are typically capped at $1,000,000 per loss and this reason is why many businesses purchase additional from an Umbrella or Excess policy. When a catastrophic liability loss occurs, an umbrella insurance policy can mean the difference between a business surviving, or not.
The rising costs of lawsuits and judgments are important for today’s business owner to consider. Catastrophic liability losses can happen to any business at any time, and a commercial umbrella policy protects you when those losses exceed your basic liability coverage. The time and effort you have taken to build your business is too important for it to disappear after one unforeseen event.
What you need to know about commercial Umbrella Insurance
Commercial Umbrella helps you protect your assets by providing liability limits above and beyond your other liability policies. In some cases, it even broadens your protection. Due to the unpredictable nature of jury awards C.K. Ash Insurance recommends that your business insurance program include this coverage.
What is Excess Liability Coverage?
This coverage provides extra liability limits over one liability policy which can be an Umbrella policy. This coverage typically follows the terms of the first underlying insurance policy.
Who needs Excess Liability Coverage?
Higher limits may be necessary for businesses with high loss potential, high profile, sizable sales, numerous assets, large auto fleets, worldwide presence, significant public exposure.