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Umbrella Insurance Policy Risk Management Solutions

An umbrella insurance policy, combined with risk management solutions and business insurance, provides extra protection for your business against significant risks. It complements your regular coverage, offering additional security when you need it most.

This guide explains what umbrella insurance is, why it’s important, and how it helps your business stay protected.

Commercial Umbrella Insurance Policy Coverage

What Is Umbrella Insurance?

Umbrella insurance provides extra coverage for your business once your regular insurance reaches its limit. If your business faces a large claim, umbrella insurance helps cover the additional costs. It’s like a backup plan for your regular insurance policies, making sure you stay covered even if something unexpected happens.

Why Is Umbrella Insurance Important for Businesses?

Here’s why umbrella insurance is important for protecting your business:

Extra Protection

It covers costs that go beyond the limits of your regular business insurance policies, such as liability or car insurance.

Peace of Mind

Knowing you have extra coverage means you can run your business with less worry about big risks.

Affordable Coverage

Umbrella insurance is usually cheap compared to raising the coverage limits on your current policies.

Wide Coverage

It can protect your business from things not covered by your regular policies, such as lawsuits for defamation or false arrest.

What Does Umbrella Insurance Cover?

Umbrella insurance covers a variety of risks that your regular business insurance might not fully protect against. Here’s what it can help with:

Liability Protection

Helps pay for legal costs or damages if your business gets sued for something like property damage or injury.

Personal Injury

Covers claims for things like defamation or false arrest that might not be included in other policies.

Employee Injuries

Provides extra coverage if an employee gets hurt on the job.

Property Damage

Helps cover the cost of damages to rented properties your business is responsible for.

Legal Fees

This covers the cost of lawyer fees and other legal expenses if your business faces a lawsuit.

Explore the Types of Business Insurance

Comprehensive business insurance and risk management services designed to protect your assets, employees, and profits from unforeseen events.

Automobile Insurance

Covers your business vehicles against accidents, liability, and damage with specialized automobile insurance.

Business Personal Property Insurance

Protect your business equipment, inventory, and furnishings from loss, damage, or theft with comprehensive business personal property insurance.

Cyber Liability Insurance

Defend your business against cyber-attacks and data breaches with robust cyber liability insurance coverage.

Directors and Officers (D&O) Liability Insurance

Safeguard directors and officers from legal claims related to business decisions with directors and officers (D&O) liability insurance.

Employment Practices Liability Insurance

Ensure coverage for claims related to wrongful termination, discrimination, or harassment through employment practices liability insurance.

Environmental Liability Insurance

Secure your business against environmental damage, cleanup costs, and related legal expenses with environmental liability insurance.

Fidelity and Crime Insurance

Protect your business from financial losses due to fraud or theft by employees with fidelity and crime insurance.

Fiduciary Liability Insurance

Provide coverage for claims arising from the mismanagement of employee benefit plans with fiduciary liability insurance.

General Liability Insurance

Obtain fundamental protection for bodily injury, property damage, and advertising injury claims with general liability insurance.

Inland Marine Insurance

Cover your business assets in transit or stored off-site with inland marine insurance.

Kidnap and Ransom Insurance

Get comprehensive coverage for ransom payments and crisis management for high-risk operations with kidnap and ransom insurance.

Professional Liability Insurance

Protect your business against claims of negligence, errors, or omissions in professional services with professional liability insurance.

Surety Bond Insurance

Guarantee your business meets its contractual obligations with surety bond insurance.

Umbrella Insurance Policy

Extend your coverage beyond standard policy limits for added protection with an umbrella insurance policy.

Workers Compensation Insurance

Cover medical expenses and wages for work-related injuries or illnesses with workers compensation insurance.

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FAQs about Umbrella Insurance for Businesses

What is umbrella insurance?

Umbrella insurance provides extra protection for your business when your regular insurance policies can’t cover the full cost of a claim.

Why do I need umbrella insurance?

It helps protect your business from large claims that exceed the limits of your other insurance policies, keeping you safe from big financial hits.

What does umbrella insurance cover?

It covers things like legal fees, liability protection, employee injuries, and property damage that your regular insurance may not cover.

Is umbrella insurance required?

No, it’s not required by law, but it’s highly recommended to protect your business from unexpected large claims.

How much umbrella coverage do I need?

The amount of coverage you need depends on your business size, risks, and the limits of your current insurance. A risk assessment can help figure out how much coverage you should get.

Can umbrella insurance cover personal claims?

No, umbrella insurance is for business-related claims only. If you want personal umbrella coverage, you’ll need a separate policy.

Can umbrella insurance replace other types of insurance?

No, umbrella insurance works alongside your regular business insurance to give you extra coverage. It doesn’t replace your existing policies.

Does umbrella insurance cover employee injuries?

It may provide additional coverage for injuries that aren’t covered by workers’ compensation, but it’s not a substitute for workers’ comp.

Can I cancel my umbrella insurance policy?

Yes, you can cancel your policy, but it’s important to understand the risks of losing that extra protection before doing so.

How much does umbrella insurance cost for businesses?

Umbrella insurance is generally affordable, especially considering the amount of protection it provides. The exact cost will depend on factors like the size of your business and its risk level.

Why Choose Risk Specialty Group for Umbrella Insurance?

At Risk Specialty Group, we’re more than just an insurance agency – we’re your partner in providing extra protection when you need it most. Here’s why businesses trust us for Umbrella Insurance:

Industry Expertise

We understand the additional risks businesses face and offer Umbrella Insurance that provides extra coverage beyond your standard policies.

Comprehensive Coverage

Our Umbrella Insurance extends your liability limits, protecting you from major claims like accidents, property damage, and lawsuits that exceed your existing coverage.

Cost-Effective Protection

Umbrella Insurance is an affordable way to increase your coverage without significantly raising your premiums.

Trusted Partnerships

We work with top-rated carriers to provide you with the best coverage options at competitive rates.

Ongoing Support

Our team offers continuous support and regular reviews to ensure your coverage adapts as your business grows.

At Risk Specialty Group, we’re your trusted partner in extending your liability protection. Let us help safeguard your business with a comprehensive Umbrella Insurance policy.

What Our Clients Are Saying

Don’t just take our word for it – hear from businesses who trust Risk Specialty Group to protect their future:

Contact Us Today

Ready to take the next step? Contact Insurance Firm today and experience the trusted support of Risk Specialty. Whether you need expert guidance or have questions about your professional liability insurance, we’re just a call or click away. Let’s connect and secure your professional future today!

Risk Management Blog

Stay informed with industry insights and expert analysis on professional liability insurance. Visit our risk management blog for valuable resources and updates from Risk Specialty.

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David Nelson

15:10 01 Apr 19

Risk Specialty Group has handled my micro-company's insurance for almost three years. They have consistently provided prompt, professional, friendly, and effective customer service. I am always sure that I have access to their "A" team and that they are in my corner. Of all my service providers, they are #1 in that department. 6 stars if I could.

Todd McMakin

16:00 04 Dec 18

We have been using the Risk Specialty Group for our company insurance for two years and have been very happy with our rates and with the customer service that we have received. They are always quick to respond to questions and requests. Highly recommended!

Su Young

18:52 04 Dec 18

Risk Specialty's owner is great to work with, excellent knowledge of the marketplace and clients' insurance needs. The staff is thorough, experienced and friendly. Great shop to consider for your insurance needs.

Elizabeth Schlitzberger

15:23 17 Jan 19

Very professional group with great attention to detail. They care about their customers! I highly recommend them!

Parallax Consulting Group

01:30 19 Dec 18

I am currently renewing my coverage for year (2) of my business. Everyone at RSG has been extremely helpful, while also being clear and concise with all my options and/or questions through every step of my growth, risk management and company success. I would highly advise and/or recommend RSG to anyone looking to find a firm you can count on...but most importantly, trust!