The world today is full of unforeseeable risks and unexpected hazards. While you can insure against most of the certain dangers, not all risks are covered by your standard policy. For this reason, Skeele Agency, Inc. is an insurance solutions provider that offers you insurance coverage against all dangers. Having a commercial umbrella policy can help increase your liability protection when the maximum limits are exceeded by the current coverage of a different policy.
What Does Commercial Umbrella Insurance Cover?
Adding financial protection to your business in the form of a commercial umbrella policy can protect you from unexpected risks. Whether it is a slip and fall accident on your premises or an employee gets injured in a company car, a commercial umbrella policy will help protect against potential lawsuits. Many retail insurance policies do not include non-physical injuries sustained in most occupations. Examples of this are slander and libel. In fact, some injuries, such as through the acts of cyber-bullying, are increasingly becoming prevalent in modern society.
What Is Excess Liability Insurance?
Excess liability insurance coverage is similar to a commercial umbrella policy because it covers risks exempted by basic policies. For example, some boat insurance policies only cover a motorized watercraft with 25 horsepower and below.
Similarly, auto insurance policies only cover liabilities of injuries sustained and damage after a collision. They do not cover other causes of damage such as windstorms, floods, hailstorms, and hit and run cases. Luckily, all these exempted damages are covered by our excess liability insurance.
If you rent part of a restaurant for a wedding reception, or a corporate event, for example, the contract you sign has a clause where you promise to take care of the facility and compensate any damages. If damages actually happen, our excess liability insurance pays up. If a court case arises out of the dispute, your policy pays for your defense and the possible subsequent fines imposed.
Commercial Umbrella Insurance Agents
Our professional insurance agents investigate your insurance needs to protect your business. We can insure your property and advise you according to the exposed risks and construct a favorable policy to suit your interests. Contact one of our agents today and get the protection you need.