How does a California Commercial Business Umbrella Policy protect my business!?

Let’s face it, at some point; we all need back up. Extra help and support can make all the difference when dealing with a challenge. The same is true when it comes to your commercial insurance policies. During the messiest of times, when your standard policies have done all they could, a quote commercial umbrella insurance policy can provide that additional coverage you need. This type of policy acts as back up coverage to assist your other policies. Let’s discuss how a commercial umbrella policy works and how it can help your business!

What is a Commercial Umbrella Policy?

A California commercial umbrella policy/quote helps cover your business after you have exceeded your traditional commercial policy limits. It is similar to an excess policy but not quite the same. An excess policy is written with the same purpose as a commercial umbrella policy; however it is restricted to only the provided underlying policy coverages.  A commercial umbrella policy is broader and can sometimes offer extra coverage that the underlying policies do not. For instance, if your underlying policy does not cover something on a claim you thought it would, a commercial umbrella policy can possibly still provide coverage.

How an Umbrella Policy Works

The commercial umbrella policy is most helpful in the event of lawsuits and/or medical payments, both of which can be very costly to your business. These expenses have a great chance of exceeding the policy limits of your existing commercial insurance policies, meaning any of these extra costs will be coming out of your pocket. California commercial umbrella policies/quotes can help you avoid paying out of pocket for those large claims and costs.

When an Umbrella Policy Helps

Not only can a California commercial umbrella policy/quote help you financially, it can also help your business when bidding for big projects. Large companies and corporations will be more likely to hire the business with substantial coverage to ensure any claim that could arise during the project will be covered. They sometimes even require commercial umbrella coverage. With this policy you will increase your bidding power by showing you have gone above and beyond the standard coverage.

The commercial umbrella policy helps in more ways than one and provides the most coverage for your business. For more information on how California commercial umbrella insurance can help your company, contact JVRC Insurance for a quote. You deserve substantial coverage so you can focus on running your business successfully!