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Liability coverage can sometimes be limited. It might not protect your business against claims like fire damage, employee lawsuits, and auto liability, especially when your general liability policy reaches the coverage limit. Purchasing this policy can help provide adequate coverage against arising claims. Top Grade Insurance offers flexible policies to protect your business against financial losses when your coverage exceeds the limit.
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Most liability insurance policies have limits, exposing businesses to various financial risks. Top Grade Insurance will help you find customized insurance packages to cover your business against claims that exceed your liability policy.
Our Coverage Options
Our insurance policies have aggregated limits to provide you with adequate coverage. Below are our top umbrella insurance offerings:
Your employees may sometimes rent or use their cars for business activities. Hired and non-owned auto liability protects your business against claims when employees rent or use their cars for work-related operations.
Your employees might file a lawsuit against your business for several reasons. This policy protects your company against financial losses when such claims arise.
While general liability protects your business against bodily injury and property damage claims, you may have to pay out of pocket when these claims exceed your coverage limit. Umbrella insurance can help offset the extra costs.
Directors and officers might face lawsuits against them for various reasons. This policy covers legal costs when such claims pop up.
This policy covers your business if you are liable for a fire in your rented or leased space.
Your liability insurance might not protect your business against specific claims, leaving you vulnerable to financial risks, and multiple liability claims might adversely impact your business financially. The good news is that Top Grade Insurance offers insurance options across all business sectors, ensuring adequate coverage when your liability policy exceeds the limit. Contact us today for a free quote.
Frequently Asked Questions
- How does Umbrella Insurance work with my existing liability policies?
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Umbrella Insurance extends the coverage of your existing liability policies, such as general liability or auto liability, by providing additional limits. Once your primary policy’s limit is reached, this policy can help cover the remaining costs, protecting your business from excess claims.
- What factors should I consider when choosing the amount of Umbrella Insurance coverage?
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Important factors include the size of your business, the level of exposure to risks (like employee interactions and business operations), the assets you wish to protect, and the existing coverage limits of your primary insurance policies.
- Is Umbrella Insurance only for large businesses, or can small businesses benefit too?
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Umbrella Insurance is beneficial for both large and small businesses. It provides added financial security, especially for small businesses that may lack the resources to handle substantial claims beyond their existing policy limits.
- Are there any exclusions or limitations with Umbrella Insurance coverage?
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Yes, Umbrella Insurance policies often have exclusions, such as coverage for intentional acts, certain types of professional liability, or damage resulting from specific high-risk activities. It’s essential to review your policy to understand what is and isn’t covered.
