Commercial Umbrella Insurance

When the unexpected happens, you need the right protection and coverage. Sometimes, this is beyond what your usual policy provides. Umbrella insurance can protect you in these situations.

When you reach the limits of that policy, your assets, such as college funds, retirement savings, home and future earnings, could all be at risk.

Umbrella insurance offers additional protection above your current commercial auto liability and general liability policies. It is the perfect way to safeguard the assets and standard of living that you worked hard to establish.

O’Kane & Tegay can find the product to help you cover your commercial liability fully, with primary, excess and umbrella insurance limits up to $100 million.

Designed to give you an added level of security, umbrella insurance will provide enhanced coverage for expenses associated with legal fees, lawsuits and settlements.

If you were faced with a liability lawsuit that required $3 million to settle, but your general liability insurance had a limit of $2 million, you would be responsible for the other $1 million. However, if you had a $4 million umbrella insurance policy, that policy would pay the $1 million and leave you with an additional $3 million of additional umbrella insurance protection.

Legal costs, lawsuits, out of court settlements and court awards can reach staggering amounts that far exceed your general liability insurance. Umbrella insurance can assist with covering those expenses. Below are types of coverage that an umbrella insurance policy covers.

Property Damage Liability

Property damage liability covers the expenses of damage or destruction of someone else’s personal property. Examples of these expenses include:

  • Damage to cars, vehicles or other property caused by an auto accident for which your business is held responsible.

In addition, umbrella insurance can provide coverage when you are sued for the following:

  • Libel or injurious written statements
  • Slander or injurious spoken statements
  • Malicious prosecution
  • False arrest, imprisonment or detention
  • Mental anguish or shock
  • Other liability situations

Umbrella insurance covers liability after your other policies have been exhausted. For a relatively reasonable cost, the umbrella policy gives your business the added layer of liability protections that can prove crucial to protecting your assets, business, family, lifestyle and future.

Learn more about your Umbrella Insurance Coverage options.

Call now to speak with one of the friendly agents in our San Francisco office, at 415-242-8777.

We will review your current coverage free of charge, discuss your current risks and search for the best insurance products to fit your family.

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