When you get your business under the umbrella, or decide to carry commercial umbrella liability insurance, you protect your business and all of the hard work that has gone into building and sustaining it against the unforeseen and unexpected. Business owners should not leave their business subject to the risk of a catastrophe that overextends the limits of their standard coverage, and an umbrella insurance policy can ensure that you do not. To help you understand a commercial umbrella liability insurance policy, here are a few things you should know.
- These policies are created based on the judgment of the insurer in most cases. If you are unhappy with some of provisions in the umbrella policy you have been presented, or feel that the policy does not properly protect you, talk to your insurer. You will often be able to negotiate to get the policy you need.
- Your umbrella liability coverage will probably have a provision that could affect the way your court case is handled. In most cases, the umbrella insurer can get involved with—or even take over—a court case defending a claim that will involve the insurer.
- Based off of Commercial Liability Umbrella Form, CU 00 01 04 13, there are a few things your umbrella policy likely will not cover, including liquor liability, electronic data, recalls, pollution, and workers’ compensation.
Are you working with a team of agents who is helping you understand the commercial insurance your business needs and how it can protect you? You deserve to be able to safeguard all of your hard work in a way that you can understand. Contact Medwin Insurance Agency, serving Beverly Hills, Los Angeles, and all of California, to get the business insurance your work merits.