Commercial Umbrella Insurance

About Commercial Umbrella Insurance

These are some factors (not all) that Heritage Insurance Agents will assess in determining which of our companies fits your risk management needs. We will then shop the price to ensure the best fit within those companies.

Umbrella Insurance Defined:

Umbrella insurance is extra liability insurance above the limits of your business owners, commercial auto, and package insurance policies.


Coverage:

It is designed to help protect you from major claims and lawsuits and as a result it helps protect your assets and your future. If your liability coverage is not enough to cover the damages of an accident you cause or an incident on your property, a commercial umbrella insurance policy kicks in right where your other liability underlying limits have been reached. The policy can provide coverage for:

  • Injury
  • Damage to property
  • Certain lawsuits
  • Liability Situations
  • Bodily Injury Liability
  • Property Damage Liability
  • Owner of Rental Units
  • Slander
  • False Arrest
  • Mental Anguish


Benefits:

An Umbrella policy can…

  • Be applied to multiple underlying liability policies.
  • Drop down when an underlying policy’s aggregate limits are exhausted.
  • Cover claims not included in the underlying policies.


Excess Insurance Defined:

Excess Insurance is much different than Umbrella Insurance. Excess Liability can only be applied to one underlying company. For example, if your Business or package policy is with one company, but your commercial auto is with another, the loss that occurs on the commercial auto policy may not be covered by your excess if your limits are exhausted on the commercial auto policy.