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Commercial Umbrella Insurance

Commercial umbrella insurance can offer an extra layer of liability protection for businesses.

When the liability limit on an underlying insurance policy (such as commercial general liability insurance) is reached, commercial umbrella insurance can step in to help cover additional liability.

It can help pay for legal expenses, medical bills, property damage and court judgments that exceed the limits of other policies. If your business faces large lawsuits, commercial umbrella insurance can offer financial security beyond your base coverage.

What Types of Businesses Benefit from Commercial Umbrella Insurance?

The following are examples of businesses that could benefit from this type of insurance:

  • Small businesses—Small businesses with limited resources can benefit from the added liability protection. It can help cover costs beyond their primary liability policies.
  • High-risk industries—Businesses operating in high-risk industries, such as construction, manufacturing or hospitality, face greater liability exposure. An umbrella policy can offer an extra financial safety net.
  • Professional services—Professionals like doctors, lawyers and consultants can benefit from umbrella insurance. Lawsuits against them can be substantial, and umbrella insurance can help mitigate the financial risk.
  • Property owners and landlords—If you own rental properties or commercial real estate, umbrella coverage can help financially protect against liability claims from tenants or visitors.
  • Retailers and restaurants—Businesses with frequent foot traffic are susceptible to slip-and-fall accidents or other incidents. Umbrella insurance can offer additional financial coverage.

How Much Does it Cost?

The following factors may influence the cost of this type of insurance:

  • Industry risk factors
  • Business size and revenue
  • Location
  • Deductibles

Contact Castillo Insurance & Income Tax Service to get accurate quotes tailored to your specific situation. Our professionals can help you find the right balance between coverage and cost.