Business Umbrella Insurance

If you own a business, you should carry general liability insurance to protect you in the event of a lawsuit due to negligence on your part. However, there may be situations where the limits of your business insurance policy, commercial auto policy, and worker’s compensation policy don’t provide adequate protection. In cases like that, business umbrella insurance, also known as Business Catastrophe Liability insurance, becomes a valuable asset that provides you and your business additional liability protection. At Peterson Insurance, our team of experienced agents can help you find an affordable business umbrella insurance policy with the coverage you need to safeguard your assets.

What is Umbrella Insurance for Business?

So, what is umbrella insurance for business, exactly? It’s an additional layer of liability protection that companies can use to guard themselves against financial losses. It provides additional liability coverage limits on top of your liability coverage limits on your underlying business policies (such as property policies, liability, auto, and worker’s comp policies), in the event of a large lawsuit or claim. A business umbrella insurance policy helps businesses of all sizes protect their assets and finances should a major lawsuit arise without bearing the full brunt of such costs from their own pocket. Umbrella insurance for businesses can provide peace of mind to those running a company, as it helps them keep their financial security intact in the event of unforeseen circumstances.

What Does Business Umbrella Insurance Cover?

A business umbrella insurance policy covers similar types of costs as liability business insurance. This includes personal injury and libel offenses, as well as attorney fees, medical expenses, and damages in the event that your current business policies don’t cover these types of incidents fully. It can also cover damage to property that’s not protected under your business property insurance policy.

How Much Umbrella Insurance Should a Business Carry?

It's essential to ensure you're adequately protected from unforeseen losses or accidents. However, businesses come in all shapes and sizes, so the amount of umbrella insurance a company should carry does vary. A good starting point is to match your business umbrella insurance policy to your net worth. So, if your net worth is $2 million, your insurance policy should cover that much. Ultimately, having a proper amount of umbrella insurance will help you keep your business safe and secure no matter what comes your way.  Most commercial business umbrella policies can be purchased for $1 million - $10 million in coverage (in $1 million increment options). 

Find Umbrella Insurance for Business from an Independent Agency in PA

Are you looking for a reliable business umbrella insurance policy in Pennsylvania? If so, you’ve come to the right place. At Peterson Insurance, we are proud to be your go-to independent agency for business umbrella insurance coverage in PA. With 25+ years of experience, we have earned a reputation as a trustworthy and knowledgeable provider, providing our clients with top-notch service and competitive rates. As an independent insurance agency, we aren’t tied to a particular provider and can find you the best policy amongst 30+ A-rated companies.

Call Peterson Insurance for Your FREE Business Umbrella Insurance Quote Today!

As an independent insurance agency located in Havertown, PA, we can help you secure a business umbrella insurance policy that provides ample coverage beyond your general liability policy, commercial auto policy, and worker’s compensation policy. Click to get a free business umbrella insurance quote online, or call to speak directly with one of our local insurance agents to find affordable business umbrella insurance in Pennsylvania today!