• March 9, 2018
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Business Insurance 101: The Basics of Commercial Umbrella Insurance

When you look for commercial umbrella insurance for your business, you want to ensure that you understand the way your policy impacts your company. Business insurance protects your company from financial losses, but only when you have the coverage to address potential concerns. By working with Absolute Value Insurance, you can find the right commercial insurance to address your concerns.

What is Umbrella Insurance?

Umbrella insurance is a type of supplementary policy for your business. It covers your company for liability above and beyond the coverage in a basic policy. For example, if you have commercial insurance for a fleet of vehicles, a company property and liability protection for your products, then your umbrella policy will cover any expenses that exceed your other insurance policies. It provides additional liability protection to limit potential costs to your business.

Coverage for your Business

The coverage available for your business depends on your specific needs and concerns. Since the policy applies after you exhaust the coverage in other commercial insurance policies, you want to evaluate your concerns before purchasing the plan. Ideally, you want enough coverage to protect your company assets. You want enough coverage to pay for the cost of a court case. You also want the policy to pay for any expenses that exceed your other liability plans. 

An advantage in commercial umbrella coverage is the cost. For a small monthly payment, you can purchase up to $500,000 or 1 million dollars to protect your company assets. 

Commercial umbrella coverage in Woodland Hills plays an important role in protecting your company from financial risks. A key complication associated with the policy is identifying the amount you need for your growing business. To learn more about your coverage options or to discuss a policy with a professional, contact Absolute Value Insurance for a free quote today.