Commercial Umbrella Insurance in Punta Gorda, FL
Commercial umbrella insurance may financially safeguard your business from costly lawsuits or unexpected claims that exceed your primary liability coverage limits. Without this policy, incidents such as workplace injuries, customer lawsuits or property damage could leave you struggling to pay for the resulting expenses. This extra layer of coverage may help keep your business financially stable even when faced with high-dollar claims.
What Is Commercial Umbrella Insurance? 
Commercial umbrella insurance may provide additional liability coverage for your business. If a claim exceeds the liability limit of your regular insurance policy, such as commercial general liability, commercial umbrella insurance may give you extra financial support. For example, if an employee making deliveries causes a car accident that leads to multiple injuries and the medical costs exceed the limits of your commercial auto insurance, your business will be responsible for the additional expenses. However, with commercial umbrella insurance, that excess amount may be covered.
What Does Commercial Umbrella Insurance Cover?
When customizing your business insurance policy, it is essential to include commercial umbrella insurance. This policy may cover the following in case of liability claims:
- Legal fees
- Medical expenses
- Costs to repair or replace third-party property
- Court judgments or settlements
What Is Not Covered by My Policy?
Not all claims are covered by commercial umbrella insurance. The following are some standard exclusions:
- Damage to your own property (including your home, car or possessions)
- Intentional damage
- Criminal acts
- Business losses
- Contractual liabilities
- Product recalls
- Cyber liability
Secure a Policy Today
Elevate your coverage with commercial umbrella insurance from Harbor Star Insurance, LLC. Our knowledgeable professionals are ready to work with you to identify potential gaps in your coverage and provide tailored solutions. Contact us today.