Business Umbrella Insurance
You’ve worked hard for the success of your business — and a single unfortunate event could put its assets at risk if the cost of a covered claim exceeds the limits of your business liability insurance.
That’s where Pace Insurance & Financial Services business umbrella insurance can help. It’s an additional layer of liability insurance that begins at the limit of an underlying liability policy. Purchased in $1 million increments, it can provide up to $10 million of coverage for qualifying businesses with covered claims — and it allows you to help protect your business from risks like large jury awards.
Here are some other typical risks you can manage with an umbrella policy:
Risk:
An elderly customer is injured when she trips on frayed carpeting while visiting your business. Her medical costs are substantial — and exceed the limits of your liability policy.
Coverage:
An umbrella policy can help when the costs of a claim surpass the limit of your underlying liability policy.
Risk:
Your employee causes a multi-vehicle accident while driving a company car to a business appointment. The combined medical and repair costs are higher than the limits of your commercial auto policy.
Coverage:
An umbrella policy can help with liabilities that exceed the limits of your underlying commercial auto policy.
