Umbrella and Excess
When It Rains, It Pours – and OneGroup’s Got You Covered
Excess liability insurance, often referred to as umbrella insurance, is an insurance policy that covers you above and beyond the amount of general liability insurance you carry to protect your business assets. Commercial excess liability insurance policies have two primary functions: Extend your total insurance protection past that of your basic general liability insurance policy, and expand the type of insurance coverage past your basic coverage to protect you against risks that are unique to your business and industry.
There are many types of excess insurance policies. Excess insurance needs to be very specific and choosing the right coverage to fully protect you is important. Smart business managers work with an independent insurance agency like OneGroup that is capable of identifying a wide range of risks—sometimes hidden risks—and one that can design a comprehensive excess liability insurance policy to fully protect their personal and business assets.
Excess liability insurance is very affordable
You might think that excess liability insurance is expensive but it is not. It is actually quite inexpensive given the amount of protection you receive. Most excess insurance policies are sold in million dollar increments up to about $20 million. A $1 million excess liability insurance policy will cost you as little as $150-$300 per year and each $1 million additional coverage is typically less.
Excess liability insurance quote
Consider purchasing an excess liability insurance policy with $2 million to $5 million in coverage. The cost is minimal when you have your personal and business auto and homeowners insurance with OneGroup and it could quite literally save your business and nest-egg from ruin.
Excess liability coverage can be involved so be sure you have the right insurance for your needs. OneGroup’s business risk specialists can help.