• Excess liability coverage
What is Commercial Umbrella Insurance?
Businesses can obtain significant amounts of coverage through primary insurance policies, but there is often a limit to how much protection these policies will provide. Commercial umbrella insurance policies give Vermont businesses that want additional coverage a way to get the extra protection they desire.
Commercial umbrella insurance policies normally serve as secondary policies, supplementing primary policies. The primary policies that are supplemented are sometimes called “underlying policies.”
What Vermont Businesses is Business Umbrella Insurance Right For?
A business umbrella insurance policy might be appropriate for any Vermont business that wants more protection than their primary insurance policies offer. Businesses with lots of assets, businesses in high-risk industries and businesses that just want extra safeguards in place may want to explore getting a business umbrella policy.
In addition to for-profit businesses, many municipal governments and not-for-profit organizations can also benefit from having extra insurance coverage. In many cases, governments and nonprofits are exposed to a lot of risk and have few resources to address a potential liability suit with.