It might happen that the coverage amount offered by an insurance policy for a third party liability, be it a home or car insurance, gets exhausted without fulfilling the requirement. In such a situation, a policyholder can get an umbrella insurance for extra coverage.
Commercial Umbrella Insurance
Commercial Umbrella Insurance Service By MoneyCare Financial Services
What Is A Commercial Umbrella Insurance
An umbrella insurance, also known as extra liability insurance, is designed to provide extra protection to an individual from any legal or other liabilities, in case the limit of the primary policy gets exhausted. It helps the policyholder in protecting his/her future and assets. For instance, if you are covered under this policy and the liability insurance or third party coverage for your car insurance gets used up; umbrella insurance comes to the rescue. It provides you coverage beyond the limits of your policy. Claims related to umbrella insurance get settled within 30 days from the date of receipt of the documents. However, the duration can extend if any investigation is required or the documentation is incomplete.
What does Commercial Umbrella Insurance cover?
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What are different types of Commercial Umbrella Insurance coverage?
- You will get covered for claims like slander, libel, false arrest, liability protection on your owned rental units, etc. Please note that these claims are usually not included in any other liability policies.
- You can buy an umbrella insurance policy at cheaper rates if you buy it from the same insurance provider.
- It provides additional security and you don’t need to worry even if you have exhausted your original insurance claim limit.
- It covers you against such threats, dangers and unforeseen circumstances which are not covered by any standard insurance policy.
- Provides you with a duty to defend form
- Provides broader coverage on various types of primary insurance
- Umbrella insurance narrows coverage gaps with its drop down feature
Business Owners Policy
Get customized insurance for your business according to your needs.
Business Liability Insurance
Helps you, your employees and your customers by providing them coverage.
Contractors All Risk
Construction is a high risk industry,cover your damages with CAR Policy
Workers Compensation Insurance
Covers statutory liability of an Employer for employee death or bodily injuries
Importance of Commercial Umbrella Insurance
It Covers you against unforeseen circumstances which are usually not covered by any standard insurance policy. As this policy gives extra liability coverage to the insured, it ensures peace of mind and makes them feel additionally secure. Contact us to know more.
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