Umbrella Liability Insurance provides an extra layer of coverage for claims that exceed your primary business liability limits. Standard insurance policies will cover your business in most situations, but when serious circumstances occur, umbrella liability will help guarantee that your business is completely protected.
SeibertKeck agents will work with you to identify and provide umbrella liability coverage to pick up where your basic coverage left off.
Functions of Umbrella Liability Policies:
- To provide additional limits above each occurrence limit of the insured's primary policies.
- To take the place of primary insurance when primary aggregate limits are reduced or exhausted.
- To provide broader coverage for claims not covered by the insured's primary insurance policies, which would be subject to policy retention.
Most umbrella liability policies contain one comprehensive insuring agreement. This agreement usually states it will pay the ultimate net loss, which is the total amount in excess of the primary limit for which the insured becomes legally obligated to pay for damages including bodily injury, property damage, personal injury and advertising injury.