Choosing the right insurance for your business is crucial, regardless of industry. Determining whether commercial insurance can be combined with umbrella insurance is necessary to achieve maximum coverage for your business. At Great Lakes State Agency serving Okemos, MI, we specialize in assisting our clients with commercial insurance, including commercial umbrella insurance.
Commercial Insurance Has Liability Limits
There are several types of commercial insurance, including general liability, business auto liability, employer’s liability, and professional liability. These policies have payout limits, however, and choosing the right limit for the right policy can be difficult. That’s where commercial umbrella insurance comes in. Combining umbrella insurance with existing commercial liability insurance extends coverage limits across all your business liability policies.
Umbrella Insurance Extends Your Liability Limits
Umbrella insurance provides an additional layer of protection on top of existing commercial insurance. Once the limit of an underlying liability policy is exhausted, an umbrella policy kicks in to cover additional costs.
Umbrella insurance can help with settlements, legal fees, and even judgments. Your base commercial insurance will first respond to any claims you need to make. If a claim cost exceeds those limits, your umbrella policy provides extended coverage. A single commercial umbrella policy applies across multiple liability policies. An umbrella policy on top of a commercial policy provides higher protection at lower costs than increasing each policy limit individually.
Call Us for a Quote
Call the team at Great Lakes State Agency, serving Okemos, MI, and surrounding areas. We’ll discuss how you can enhance your business’s liability coverage by combining commercial insurance with umbrella insurance.
