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You can increase the protection provided by your commercial general liability and commercial auto policy by adding excess liability in the form of an umbrella policy. This type of supplemental policy boosts your coverage beyond the limits of your primary insurance policies. The umbrella coverage is designed to broaden and increase coverage.

Main Reasons to Purchase a Business Umbrella Insurance

  • Your company is at risk of legal claims due to the nature of the products or services you provide
  • You work in a field that is prone to litigation
  • You have significant business assets to protect

How Commercial Umbrella Insurance Protects You

Business lawsuits happen every day. What is your risk? When you want to assess the likelihood of a liability claim being filed against you and interferring with your bottom line, a chat with Reno Insurance is a great place to start.

Many small businesses think that only big businesses are at risk of legal action. However it is important to know that any business can be hit with a liability claim or lawsuit. Relatively minor actions, and even a moment of inattention by one of your employees on the road, can unfortunately lead to big legal action.

Here are some examples of liability risks:

  • A business patron slips on an icy walkway or is injured falling down slippery steps
  • An employee makes a poor decision to rush through a yellow light, causing an accident that results in severe injuries and property damage
  • Use of a company’s product leads to an illness or death
  • An employee says something damaging about another person or corporate entity on a social media platform while on the job
  • Advice that a staff member provides, in a consulting capacity (such as financial or tax advice) leads to a patron’s financial loss

To protect your company, you can get a commercial umbrella liability policy that covers the potential excess liability insurance you may need in the event that you face a large lawsuit. Contact our office today to discuss your umbrella options.

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Are your liability exposures adequately protected?

As a business owner, your operation may be subject to a potentially catastrophic loss that you may not have considered. A customer who arrives at your premises slips and falls on the stairs. As a result of this fall, the customer undergoes several knee, back and neck surgeries and now requires the use of a cane. A jury finds you 100% liable for the customer’s injuries and awards the customer $1.6 million for his injuries. Fortunately, you have a liability policy with a $1 million limit.

However, you do not have a commercial umbrella policy in place as part of your commercial insurance protection.As a result of the $1.6 million verdict, you are now liable for the remaining $600,000, and your business assets are exposed to garnishment, attachment or other means the court deems sufficient to pay the balance of the judgment.

While your auto and general liability policies may protect against minor misfortunes, these policies do not provide the protection you need in the event of a catastrophic claim.

Interested in a commercial umbrella policy? You will need to carry a minimum limit of $500,000 for both your commercial auto and general liability policies, and a minimum limit of $100/$500/$100 for employers liability policy.

A commercial umbrella may be written with a limit of $1 million, up to a limit of $10 million (higher limits may be available).Please contact our office today to discuss commercial umbrella coverage and verify that you are adequately protected from a potentially catastrophic loss.


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