By the time it rains it’s already too late to see if you have an Umbrella!  BE PREPARED!

For less than the cost of a cup of coffee a day, you can add an Umbrella Policy with a limit of $1,000,000, possibly $2,000,000 or even $5,000,000!

We know your business means everything to you. It’s also what is most important to us. As an owner of a growing business, you face tough challenges every day. Make sure your business is adequately protected today and tomorrow with a robust and affordable Umbrella policy.

It’s no surprise that as a fellow business owner, you also view the insurance purchasing experience as a combination of purchasing coverage that provides complete protection and no gaps with a price that you can afford.

With a unique Strategic Business Protection product and a working industry knowledge, Professional Liability Insurance Group can help guide you so that you purchase the right amount of coverage for your unique business needs.
In our Business Owner Policy (BOP) section, we discussed the fact that there are two critical insurance protections every business should have: business property and business liability.  These are the key elements of a Business Owner’s Policy, or BOP, and can protect your business against fire, theft, lawsuits and more.
But all BOP’s have coverage for certain things that do not cover you up to the maximum property or liability limits of your policy.  Rather, these items have lower limits called sub-limits.  For example, you could have a $500,000 property limit on your policy for Business Personal Property, but only have a $10,000 sub-limit to address the medical costs of an injured person.  If the medical costs of that person were to exceed this sub-limit, then you would be held liable for the amount above that sub-limit.

That is NOT a situation you want to find yourself in – EVER!

An Umbrella can offer you the ability to “drop down” it’s limits to cover a loss that has already had it’s sub-limits exhausted, ensuring that you are not personally exposed for this additional amount above your underlying policy or policies.
Protect Yourself with Umbrella Liability Insurance
A Commercial Umbrella Policy could protect your company against excess liability judgements for loss, injury, or death caused by negligent acts.  It is designed to provide liability protection over and above the insurance policies you currently have.
In today’s legal environment, an accident can threaten the solvency of your business. Judges and juries award millions of dollars to victims of serious accidents.

The losses below show the consequences of situations that can quickly exhaust the liability limits of the underlying policies:

• A 59-year-old man rendered a quadriplegic when his vehicle was rear-ended by a policyholder’s employee: $7.5 Million paid.

• A deliveryman suffered herniated discs requiring surgery and continuing treatment when he slipped and fell down the stairs of the defendant’s place of business: $1.763 Million paid.

• Woman suffered a hand fracture when her hand became trapped in a bench as she attempted to get up:  $1.733 Million Paid

• Woman killed in an auto accident due to being intoxicated by alcohol provided by her employer: $3.777 Million Paid.

Ensure you have a superior umbrella liability insurance policy that protects your business against the devastating effects of a large verdict. We may offer liability limits from $1 million to $25 million or higher. For most coverages, these limits can “drop down” to replace exhausted or reduced aggregate limits on your primary insurance.

Like your business, Professional Liability Insurance Group is also a business and our team understands the importance of developing a plan for continued financial security. Your local Professional Liability Insurance Group agent, or as we consider ourselves, providers of a unique product, that of our “Strategic Business Protection“, can work with you to determine the appropriate design of insurance products and provide business insurance quotes tailored to your business.