If you are ever sued, your liability or business owner’s policy will provide you with some liability coverage, paying for judgments against your company up to a limit set in the policy. However, in our litigious society, you may want to have an extra layer of liability protection available. That is what a commercial umbrella provides.
An umbrella policy kicks in when you reach the limit on the underlying liability coverage in a commercial liability or commercial auto policy due to payment of a covered claim.
Because the commercial umbrella goes into effect after the underlying coverage is exhausted, there are certain limits that usually must be met in order to purchase this coverage.
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