FLORIDA/TEXAS—If you own a business which interacts with clients and customers in person, or work on someone else’s property, you face liability risks on a daily basis, especially if you operate heavy machinery or dangerous equipment.

What happens if your business is sued and the judgment amount exceeds the liability limits of your primary insurance policy, or you have multiple claims and the limits are exhausted? 

Not having adequate coverage for lawsuits can leave your business exposed. Umbrella insurance can help address these risks.

A commercial umbrella policy extends the limits of some of your primary liability insurance policies, such as general liability insurance and commercial auto insurance.

In other words, a commercial umbrella insurance gives you extra coverage to help pay for costs that exceed certain liability policy limits. Without this type of commercial insurance coverage, you would have to pay out of pocket money for liability claims that cost more than your coverage limits like the following ones: 

• Legal costs
• Medical bills
• Damage to other people’s property
• Judgments and settlements

It can also help cover claims of  bodily injury, or property damage for which your  general liability may not have sufficient coverage. That means in order to purchase your commercial umbrella insurance, you must be covered by general liability first.

Besides commercial umbrella insurance, there are other endorsements that you may want to consider depending on your business operational needs, including:

• Hired and non-owned auto liability insurance, which provides auto liability coverage when employees rent or use their own cars for business use.
• Employment practices liability insurance, which offers protection against employee lawsuits.
• Directors and officers liability insurance, which covers defense costs and damages made against a director or officer.
• Liquor liability insurance, which protects you against injury claims when alcohol is furnished during the course of your business operations.
• Fire legal liability insurance, which provides coverage in the event you are found liable for a fire in the space you rent or lease. 

The umbrella liability insurance can supplement your coverage provided by:

MOST BUSINESSES WITH THIS POLICY

Have insurance but need to close the gap on requirements above $2 million.

Have high liability risks, such as a business location with a lot of foot traffic.

Need more liability protection across several policies.

At Garzor Insurance, we care about your business. We can help you find potential coverage gaps and discuss your unique insurance needs to find you the professional liability policy with coverage that matches your specific business needs. Our experienced professionals are dedicated to providing commercial insurance, including BOP coverage, business general liability, and professional liability coverage in Florida as well as Texas, and now many other states across the U.S. If you also have questions about truck or other commercial vehicles insurance, or any other business insurance aspects, please do not hesitate to visit us online at Garzor Insurance, or you may want to call us directly at (321) 206-8035. 

Luis Laguado

Licensed Insurance Agent