Commercial Umbrella

For smaller to medium size businesses the Commercial Umbrella Liability policy is a newer insurance coverage option.

Not very long ago, the coverage was considered to be only needed by very large business entities. Today, a different set of circumstances exists. Liability claims and court decisions involving millions of dollars are no longer uncommon; any business can be found legally responsible for this type of judgment.

A Commercial Umbrella Liability Policy, increasingly referred to as an excess policy, can provide an additional layer of insurance protection to handle major losses.

The coverage form is still not standardized, varying greatly among companies and some jurisdictions may create unique coverage issues. Punitive damages are an example. Some states only permit responsible parties to pay punitive damages; others allow them to be paid by insurers. Every policy has exclusions and they may vary by company. 

An unbrella policy is an excellent tool to help shield a business from catastrophic losses. Contact us to discuss securing this valuable form of liability coverage. It could help preserve your business.

Taggart Insurance is domiciled in Colorado. Our primary focus is on serving Colorado residents and Colorado businesses. Please contact us for information regarding out-of-state coverage.

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