An extra layer of coverage to protect your business.
Commercial umbrella insurance provided by Horwath Insurance Agency.
Commercial umbrella insurance is designed to supplement existing insurance policies, giving you an additional layer of protection for your business. We’ll work with you to find the right umbrella solution to cover all your business needs.
The best backup for your business to have.
Commercial umbrella insurance is all about going one step further. It’s an added layer of protection that kicks in if the very worst happens with your business insurance policies.
Kicks in when surpassing your payout limit.
Most business insurance policies–whether they cover commercial liability or commercial property–have a payout limit. Normally, your business would be on the hook for any expenses above and beyond this limit. This type of unexpected cost is something that could threaten the very survival of your business. A commercial umbrella policy kicks in only if your main business insurance policy reaches the payout limit. At that time, the commercial umbrella policy would pay out the remaining costs.
Real world example of how commercial umbrella coverage works.
For example, let’s say you have a liability insurance policy of $500,000 for your business, but you must pay damages of $700,000. If you have a commercial umbrella policy in place for your business, the liability insurance policy will pay out in full first, and then the umbrella policy will pick up the remaining $200,000.
A worthwhile investment that’s affordable.
The beauty of commercial umbrella insurance is that, because there’s a relatively low chance it will need to pay out, it’s often considerably cheaper to purchase than you might expect.
Commercial umbrella insurance is a great way to further protect your assets. Reach out, and we’ll help you to determine if it’s right for your business.
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