Commercial Umbrella Insurance
A commercial umbrella insurance policy provides additional liability protection over and above the coverage limits of primary policies. The policy covers extra expenses that include costs of legal expenses, medical payments, and damage costs. This policy applies to policies like general liability insurance, commercial auto insurance, and employersu2019 liability insurance. It is different from excess liability insurance in regards that excess liability coverage increases the underlying limits of a plan without additional broad coverage. Conversely, commercial umbrella insurance has broader coverages that safeguard the company from liability claims that include, but not limited to: libels and slanders, legal defense cost, reputational damage, auto accidents, product liability, and customer bodily injury or property damages. Likewise, the exclusions of this policy are commercial property insurance, errors and omission insurance, lawsuits related to employee discrimination, punitive damages, and claims already covered by primary policies, to name a few. The cost of this insurance depends on factors like the size of the company, the number of employees, the industry of your business, claims history, and insurance carrier you choose. To learn more about Commercial Umbrella Insurance, follow this link: https://quotezebra.com/commercial-umbrella-insurance/
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