Umbrella

An umbrella policy provides an additional set of limits above and beyond the limits offered by your primary liability insurance program.

The typical umbrella liability policy will provide coverage excess to your commercial general liability, business automobile liability, and employers’ liability policies. The primary liability policies must be scheduled on your umbrella policy in order for the umbrella to provide the excess coverage. There are special umbrella policies designed to provide excess coverage over ocean marine policies on boats and marinas.

We live in a society prone to filing lawsuits and in which medical costs continue to spiral upward. In addition to medical expenses, you can be held liable for current and future lost wages, business interruption/earnings, hospital stays, a life time of care, and funeral expenses. These costs can be astronomical. If you are unfortunate to be facing such a lawsuit, all you have worked so hard to accumulate may be taken from you.

Umbrella policies are typically offered with limits of $1,000,000 each occurrence and $1,000,000 annual aggregate. Higher limits can be purchased in multiples of $1,000,000.