Can your Connecticut company afford to pay out of pocket for damages that exceed your underlying policies’ limits? If eligible, your company can obtain the commercial umbrella coverage you need for a very reasonable premium.
Not long ago, commercial umbrella insurance coverage was considered to be needed only by very large businesses. However, times have changed. With liability claims and court decisions involving millions of dollars threatening businesses of all sizes, commercial umbrella insurance is a sound investment for any business. As much as $1 million in additional liability coverage could cost as little as a few hundred dollars per year.
A commercial umbrella policy, also known as an excess liability policy, can provide an additional layer of protection to handle major losses. Some policies provide coverage while other policies do not, so it is important to know exactly what the policy you have covers.
Coverage varies greatly among companies. Some jurisdictions may create unique coverage issues. Take for example, punitive damages. Some states only permit responsible parties to pay punitive damages while others allow them to be paid by insurers.
Contact Olde Liberty Insurance today to receive a no-obligation, customized quote from some of the most reputable carriers in the state of Connecticut.