If you own a business, you probably own some form of general liability insurance to protect you in the event of a lawsuit due to negligence on your part. Commercial umbrella insurance is an added layer of protection if the very worst happens with your business insurance policies.
Most business insurance policies–whether they cover commercial liability or commercial property–have a payout limit. Normally, your business would be on the hook for any expenses above and beyond this limit. This type of unexpected cost is something that could threaten the very survival of your business. A commercial umbrella policy kicks in only if your main business insurance policy reaches the payout limit. At that time, the commercial umbrella policy would pay out the remaining costs.
Witkin Scott Associates, Inc offers free, comparative quotes on Commercial Umbrella Insurance from multiple insurance carriers so you can get the best possible rate.
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