Commercial Umbrella Insurance

Commercial umbrella insurance is designed to assist in existing insurance policies and provide a further layer of protection for your business. Province Insurance Group promises to help you acquire the optimum umbrella coverage with the most affordable plan for your business needs.

Oftentimes when you own a business, your first and foremost concern is to worry about the future of your business. Commercial umbrella insurance is a safety net that can help keep you one step ahead of the curve and bestow a sense of financial security should tragedy strike your business and deplete your existing business policies.

Owning a business insurance policy is a vital step in investing and protecting the future of your business, but most insurance policies have a payout limit. Typically, your business would be responsible for any expenses that exceed the payout limit; however, commercial umbrella policies provide the answer to this problem.

The moment your regular insurance policy reaches its payout, the umbrella policy kicks in like a generator. This policy aims to pay the remaining costs of what would have come out of your pocket after reaching the payout limit.

For instance, you have liability insurance covering seven hundred thousand dollars for your business, but the damages incurred are eight hundred thousand dollars. How are you going to afford the remaining one hundred thousand dollars? Instead of covering those one hundred thousand dollars yourself, the umbrella policy pays that for you.

Commercial umbrella insurance has the advantage of being far more affordable than you expect because the circumstances in which it might need to pay out are rare.

The umbrella policy is another useful tool in developing a plan to protect and invest in your assets. So, reach out today! Let our Province Insurance agents assist you in determining if the umbrella is a good fit for you.