Commercial Umbrella Insurance in Alaska
A business umbrella policy works like a personal one; it steps in for catastrophic losses and can be the difference between staying open and shutting down.
Umbrella liability coverage kicks in when a claim exceeds what your existing liability policy can pay. Standard business liability usually handles the everyday stuff, but umbrella coverage protects you against the big losses. Running a business is risky enough without leaving that gap exposed; accidents and lawsuits happen even when you do everything right.
Consider these possibilities:
- Your company holiday party serves too much alcohol and people leave intoxicated resulting in personal injury or damages.
- Your commercial building has an undetected carbon monoxide leak and that results in injury/death.
- Your business is accused of failing to render the appropriate professional services.
Umbrella Liability Insurance – Coverage for your Business
An affordable business umbrella policy extends coverage once your business auto, general liability, or other liability limits are exhausted, adding extra protection against bodily injury and property damage claims.
Here's an example: your policy covers $1 million, but you're sued for $1.5 million. Your umbrella coverage picks up the remaining $500,000, often the difference between staying in business and closing your doors.
How much commercial umbrella coverage do you really need? It depends on factors like your type of business and how much coverage you already carry.
Talk to an Alaska Service Agency agent about the right umbrella coverage for your business, and ask about Excess Liability Coverage while you're at it. (907) 337-2311
