What Umbrella Policies Cover and Why They Matter for Businesses

A commercial umbrella policy is designed to extend the liability coverage of your existing business insurance. If a liability claim surpasses the limits of your underlying policies, such as general liability, commercial auto liability or employer’s liability insurance, umbrella insurance can help cover the remaining costs. This excess coverage can be crucial in the event of large lawsuits or other high-cost incidents.

What Does Umbrella Insurance Cover?

Our team helps businesses secure umbrella policies that may provide coverage for:

• Legal fees and settlements from lawsuits that exceed your primary policy limits
• Claims related to property damage or bodily injury caused by your business operations
• Certain types of reputational harm, depending on your underlying policies

It’s important to note that umbrella insurance does not cover everything. For instance, it typically does not apply to intentional acts or damage to your own property.

Why Is Umbrella Coverage Important for Businesses?

Texas is known for its dynamic business environment, but with opportunity comes risk. Large liability claims can threaten your company’s financial stability. Umbrella insurance can help:

• Cover your assets from costly lawsuits
• Meet contractual or client requirements for higher liability limits
• Help provide peace of mind knowing you have additional security

How Best Insurance Services Can Help

Our team understands the unique financial risks businesses face. We work with you to assess your current coverage, identify potential gaps and recommend umbrella policies tailored to your needs. With our guidance, you can feel confident that your business is prepared for the unexpected.

Contact us today to discuss how commercial umbrella insurance can benefit your business.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.