Umbrella Excess Liability Insurance

Bonano Insurance23 Jul, 2024Business

Commercial umbrella insurance is recognized as a cost-effective strategy for managing risks and this type of insurance provides additional limits above other existing policies, such as general liability and auto liability, which activates when the primary coverage is exhausted. Umbrella excess liability insurance in the affordability of this coverage is particularly significant in light of potential high-dollar lawsuits, where the cost of umbrella insurance is minimal compared to the coverage it offers and the cost of commercial umbrella insurance varies depending on several factors. These include the level of risk associated with the business, the amount of coverage purchased, and the specific underlying coverages.