Indiana Commercial Umbrella Insurance
Providing Added Coverage for Businesses
A commercial umbrella, or business catastrophe liability policy, works much like a personal umbrella policy. It increases limits and broadens coverages for your business, serving as a financial cushion against a judgement beyond the limits of your primary liability policy. In addition, it also provides coverages that aren’t part of your underlying insurance policies. The commercial umbrella provides additional liability coverage, based on the products and services your business provides. In our society today, businesses face a higher risk of liability claims. Because of this, it makes sense to have extra coverage to protect against claims, lawsuits and judgements.
You never think it will happen to your business. Despite your best intentions, accidents happen. People make mistakes. Furthermore, depending on the injuries, property damage and lost income you’re reimbursing, you could be responsible for a large amount of money that exceeds your liability limits on your business policies. A business catastrophe liability policy provides extra coverage for general liability, automobile liability, garage liability, employers’ liability and/or professional liability or errors and omissions coverage. It doesn’t, however, replace the regular policies and their liability limits. You’re covered for liability anywhere in the world, but there are limits on where suits can be filed. The base limit of protection is $1,000,000, but larger limits are available.
Types of liability coverage included in a commercial umbrella policy:
- Personal and Advertising Injury Liability
- Bodily Injury and Property Damage Liability
- Products and Completed Operations Liability
- Blanket Contractual Liability
- Broad Form Property Damage Liability
- Host Liquor Liability
- Owners’ and Contractors’ Protective Liability
Additionally, the policy can cover newly acquired organizations, non-owned aircraft, non-owned watercraft and mental injury. Defense costs also will be covered in certain cases.
As part of our stewardship philosophy, we would be happy to review your business policies and show you how your business can benefit from having a commercial umbrella policy.
Call us today at 317-867-5433 discuss your Commercial Umbrella policy or you can simply stop in, we are local.