Commercial Umbrella Insurance in Davie, FL

In our increasingly litigious world, businesses encounter numerous risks that could result in significant financial setbacks. Although primary liability insurance policies offer crucial financial protection, they might not always be adequate for covering substantial claims. This is where commercial umbrella insurance becomes essential.

What Is Commercial Umbrella Insurance and What Does It Cover?

Commercial umbrella insurance is a type of liability insurance designed to provide an extra layer of protection for businesses. It kicks in when the limits of your underlying liability policies, such as general liability, auto liability or employer’s liability, are exhausted. Essentially, it helps cover large, unexpected claims that could potentially exceed the coverage limits of your primary insurance policies. This can include costs related to legal fees, medical expenses and damages that arise from incidents like accidents, property damage or lawsuits.

By offering this additional coverage, commercial umbrella insurance can financially safeguard your business assets and help ensure that a significant claim doesn’t jeopardize the continuity of your business.

Why Do You Need Commercial Umbrella Insurance?

Businesses should consider commercial umbrella insurance for the following reasons:

• Enhanced coverage—It extends the limits of your existing liability policies, helping to ensure that large claims don’t exceed your coverage and leave you financially vulnerable.

• Risk management—It can help manage risks associated with unforeseen incidents, such as major accidents or lawsuits, which could otherwise have devastating financial impacts.

• Asset protection—Covering costs surpassing your primary insurance limits safeguards your business assets, helping maintain financial stability.

• Peace of mind—Extra coverage lets you concentrate on managing your business without the constant concern of facing significant liabilities.

Learn More

Contact Iten Insurance Agency today to discuss your commercial insurance portfolio.