Owning a business can come with a great deal of uncertainty and risk. Where your other insurance policies leave off, commercial umbrella insurance can pick up coverage where liability is concerned. For example, you can use your commercial umbrella insurance when your general liability or auto liability policies are exhausted.
You might think your general liability is sufficient, and hopefully, in many cases it is. However, it’s possible that damages in a lawsuit could exceed the limit of that policy, leaving you subject to financial losses. Commercial umbrella insurance gives you someplace to turn in that kind of scenario, so you aren’t forced to use your own assets or close your business to pay damages awarded in court.
It’s important to understand what commercial umbrella insurance does not cover. It does not cover property, professional liability (like errors and omissions), or events covered in other policies until those policies are exhausted.
At The Insurance Place, our independent agents can talk with you about what your commercial umbrella policy would cover, so you know exactly how to apply it in the event you ever need to make a claim. And we’ll work with you to make sure we reduce or eliminate coverage gaps for your business in San Diego, so you can operate with greater confidence that you’re less exposed to financial loss.
Give us a call at 760-643-2100 or reach out online to let us know how we can help you. Don’t put your business at risk when you don’t have to. Get in touch today. You’ll sleep better knowing you’re covered even when the unexpected happens.