Umbrella insurance isn’t just for large businesses or businesses in high-risk industries. Many Santa Clarita, CA, companies can benefit from this type of coverage and the protection it can provide in the event of a serious accident or lawsuit. After all, statistics clearly show that a whopping 90% of businesses are sued at least once in their lifespan, and California’s legal environment increases the risk of having to face a lawsuit over something you allegedly did or didn’t do. <\/p>\n
Commercial umbrella coverage kicks in after your regular insurance coverage has reached its limit and covers the same perils as your underlying policy. For example, if you have $1 million in liability coverage, but a careless employee causes an accident and you’re sued for $5 million, umbrella insurance can cover the extra cost once compensation from your regular policy runs out. This coverage includes compensation for settlements, judgments, fines, and legal fees.<\/p>\n
Read your policy carefully to know what is and isn’t covered. Product liability may not be a covered peril, even if you have product liability insurance. Cyberattacks aren’t covered by regular commercial umbrella insurance but can be covered by a cyber insurance umbrella policy if you also have first- and third-party cyber insurance. <\/p>\n
Our team at QuoteBroker Insurance Services is always happy to help Santa Clarita, CA, business owners purchase top-tier commercial insurance coverage. Call us at your convenience and we’ll answer your questions, help you review policy quotes, and give personalized advice on purchasing umbrella insurance that will meet both your current and long-term needs. <\/p>\n","protected":false},"excerpt":{"rendered":"
Umbrella insurance isn’t just for large businesses or businesses in high-risk industries. Many Santa Clarita, CA, companies can benefit from this type of coverage and the protection it can provide in the event of a serious accident or lawsuit. After all, statistics clearly show that a whopping 90% of businesses are sued at least once […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[20,21,17,8,19],"class_list":["post-158","post","type-post","status-publish","format-standard","hentry","category-commercial-insurance","tag-ca","tag-commercial","tag-insurance","tag-quotebroker-insurance-services","tag-santa-clarita"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t