Commercial Umbrella Insurance For Businesses In Massachusetts

Commercial umbrella insurance is intended to extend existing insurance policies, to give your business added protection.  It’s about going one step further. Commercial umbrella insurance kicks in when the worst case scenario occurs, your business is devastated and your business insurance doesn’t fully cover you.

Business insurance policies, whether they’re commercial property insurance or commercial liability insurance, have payout limits. Your business could be on the hook for any expenses over and outside this limit. An unexpected cost like this could possibly threaten the existence of your business going forward.

A commercial umbrella insurance policy is meant to kick in only in the cases where your main business insurance policy reaches its payout limit. When that happens, commercial umbrella insurance pays out any remaining costs.

An example would be, let’s say you have a property insurance policy of $1,000,000 for your headquarters, but you suffer damages of $1,300,000. If you have a commercial umbrella insurance policy for your business, the property insurance policy will pay out in full, then your umbrella policy will pay the remaining $300,000.

Commercial umbrella insurance may sound expensive because it covers the really big damages, but the beauty is that, because the chances of such an event occurring are lower, umbrella insurance is often more affordable than you might expect.

Pearson Wallace Insurance agents operate throughout New England and Massachusetts serving: South Boston, East Boston, Dorchester, Amherst, Pittsfield, Southern Berkshire County, Sheffield, Great Barrington, Lee, Lenox, Stockbridge, West Stockbridge and all towns and cities in Western MA.

Commercial umbrella insurance is a great way to further protect your assets. We can help you decide which policy is best for your business’ situation. Our representatives make the complex process of finding the right coverage easy to understand.