Umbrella/Excess Liability insurance should included in one’s business’s insurance program, especially in today’s litigious landscape where multi-million-dollar lawsuits and judgments are commonplace. Standard liability amounts, including those in general liability, auto liability, product liability and other policies are simply not enough to cover a potentially devastating loss.
At A.J. Benet, our experience and knowledge affords us the ability to assess how best to insure the assets of our business clients.
This means reviewing your exposures and the amount of risk your business can tolerate. Then we look at the various markets available to us with top-rated insurers to secure a competitively priced umbrella policy.
Umbrella insurance extends the liability coverage you currently have under your standard liability policies in the event your business is faced with a claim that exceeds the limits of these policies. An Umbrella policy kicks in when your underlying limits are exhausted, providing protection from various types of liability, including personal injury, liquor law, contractual and vehicle. If, for instance, you’re found liable for $2 million in a lawsuit involving a devastating injury to third party on your premises, but you only have $1 million under your general liability policy, your Umbrella policy steps in to cover any additional liability. With a $3 million Umbrella policy, your effective insurance against any covered type of liability becomes $4 million.
An umbrella insurance policy can also add coverage for risks that are excluded from your primary commercial liability insurance policies.
Don’t let a catastrophic loss soak your business.
We invite you to give us a call at your convenience at (888) 639-4560, or if you prefer email us or return the form on this page for a review of your insurance needs.
Since 1964, A.J. Benet has been serving businesses in New York City, Pelham Manor, Pelham, New Rochelle, Larchmont, Mamaroneck, Harrison, Rye, Port Chester, Rye Brook, South Salem, Purchase, White Plains, Scarsdale, Eastchester, Bronxville, Armonk, Chappaqua, Briarcliff, Pound Ridge, Bedford, Mt. Kisco, and Katonah, New York; as well as in the Connecticut communities of Greenwich, Cos Cob, Riverside, Stamford, Darien, Rowayton, Fairfield, Westport, Southport, and New Canaan.