Commercial Umbrella

A commercial umbrella insurance policy provides essential protection for businesses that face unexpected and potentially devastating liability claims. While umbrella insurance is valuable for individuals, it is even more critical for businesses. One catastrophic lawsuit can threaten the stability of a company. A commercial umbrella policy can be the difference between surviving a major loss and shutting down operations.

Lawsuits and large judgments are becoming more expensive each year. A commercial umbrella policy strengthens your liability protection by extending your coverage beyond the limits of your general liability policy. With the amount of time and effort you have invested in building your business, additional liability protection is an important safeguard.

What You Need to Know About Commercial Umbrella Insurance

Commercial umbrella insurance provides extra liability coverage above the limits of your existing business insurance policies. It offers added financial protection if a claim exceeds your general liability, commercial auto liability, or other underlying policy limits. In some cases, an umbrella policy can even broaden your overall liability protection.

Because jury awards and settlement amounts can be unpredictable, it is recommended that businesses include commercial umbrella coverage as part of their overall insurance plan. Without it, your business may be forced to pay significant out-of-pocket expenses if a liability claim exceeds your existing coverage limits.

What a Commercial Umbrella Policy Covers

A commercial umbrella insurance policy can help cover:

• Bodily injury caused to others
• Property damage caused to someone else’s belongings
• Legal defense costs associated with covered claims

To qualify for commercial umbrella insurance, you must first have a general liability policy. The umbrella policy applies when a claim surpasses the liability limits of your underlying general liability coverage.

Who Should Purchase Commercial Umbrella Insurance

Businesses with increased liability exposure can benefit from commercial umbrella insurance. Examples include:

• Retail businesses or organizations with customers visiting their premises
• Contractors, painters, roofers, and service professionals who work at customer locations
• Businesses performing offsite work where the risk of property damage or injury is higher

Any business that wants added protection from costly lawsuits or large liability claims should consider this coverage.

How Much Does Commercial Umbrella Insurance Cost

The cost of commercial umbrella insurance varies based on several factors such as:

• The limits on your general liability policy
• The type of business you operate
• Your industry risk level
• Your company size and revenue
• Claims history

An advisor at Aspen Insurance Agency can review your business operations and recommend the right umbrella coverage limits based on your risks.

Request a Commercial Umbrella Insurance Quote

Looking for commercial umbrella insurance in Colorado or other states? Contact Aspen Insurance Agency today to request a quote or learn more about your coverage options.

About Aspen Insurance Agency

Aspen Insurance Agency is based in Denver, Colorado, and serves clients nationwide. As a familyowned agency, we work with multiple insurance carriers to offer affordable and comprehensive insurance solutions. We provide personal, commercial, and professional insurance to residential and commercial clients, helping you secure the coverage you need at the lowest possible cost.