A standard commercial general liability policy is the primary layer of protection that your business needs; however, it may not be enough. Commercial Umbrella insurance can expand your insurance limits and coverage.
A Commercial Umbrella insurance policy covers gaps left behind by a CGL policy. It can extend limits, offer coverage not available in a standard policy, and more. If you think your business may benefit from a Commercial Umbrella policy or have questions about Umbrella insurance, contact an Excalibur Insurance broker or apply for a quote.
What are the benefits of a Commercial Umbrella insurance policy?
Your standard CGL policy can be depleted due to claims during your policy termor; your business may be exposed to liability exposures that can exceed your existing coverage limits. Commercial Umbrella insurance expands your CGL limits and offers additional coverage. This coverage sits on top of your CGL insurance. It gives you extra peace of mind knowing that your business can continue to operate even after a significant liability event.
Commercial Umbrella insurance offers additional limits which benefit businesses that could face liability events that exceed ordinary coverage limits. Some Commercial Umbrella insurance policies may even provide worldwide coverage, whereas CGL policies could be limited to only Canada and the United States. Commercial Umbrella insurance should be considered if:
• Your business has multiple companies and properties
• Your business travels worldwide or ships products worldwide
• Your business has purchased only the minimum limits for liability insurance
• Your business does exchanges in the United States
An Excalibur commercial insurance broker can help you review your business' circumstances and determine how much additional coverage you need.
Every business owner needs an insurance broker who leaves nothing to chance, wants to save you money, and is willing to share the unvarnished truth. So we created our "Business Defender Program," to help business owners navigate insurance coverages and eliminate blind spots. We shop the market for you and leverage our years of industry experience, to find you the right coverage at the best price.
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