Commercial Umbrella Insurance in Austin, TX
Commercial umbrella insurance may provide extra financial protection when your primary policies reach their limits. This type of coverage is essential for any business with high exposure to liability claims.
What Does Commercial Umbrella Insurance Cover?
Commercial umbrella insurance may add an extra layer of liability coverage on top of your existing policies. It typically applies when your general liability, auto liability or employer liability limits are exhausted. Common coverages include:
- Bodily injury liability for accidents involving customers or third parties
- Property damage liability for damage caused to someone else’s property
- Auto liability for accidents involving company-owned or rented vehicles
- Legal defense costs beyond the limits of your primary policies
- Employer liability for certain workplace-related claims
Is Commercial Umbrella Insurance the Same as Excess Liability Insurance?
Not quite. Excess liability insurance strictly increases the limits of a specific underlying policy, such as general liability or auto liability, without broadening the scope of coverage. In contrast, commercial umbrella insurance can apply to multiple underlying policies and may also cover claims that aren’t included in the base policies, as long as they’re not specifically excluded. Think of excess liability as an extension of one policy, while umbrella insurance acts as a broader layer that can apply across several policies.
How Much Does a Policy Cost?
Many factors impact commercial umbrella insurance costs, including your industry, number of employees, claims history and coverage limits. An insurance agent from S&T Duran Insurance Agency can provide a quote based on your specific needs.
Contact Us
Contact S&T Duran Insurance Agency today to learn more about commercial umbrella insurance and get a personalized quote. Our dedicated agents can help you explore options and secure appropriate coverage.