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877.39.ALPHA
An umbrella insurance policy provides coverage for various costs, including:
- Bodily injury and medical expenses
- Product liability
- Damage to customer property
- Libel, slander, and copyright infringement
- Legal defense against lawsuits
In New York, this type of insurance is referred to as commercial excess insurance.
What is Umbrella Insurance?
Umbrella insurance provides extra liability coverage beyond your auto, homeowners, or renters policies, protecting you against large claims or lawsuits. It covers injuries, property damage, legal fees, libel, and slander, usually starting at $1 million in coverage. It doesn't cover your own property, business-related liabilities, or intentional harm. Ideal for those with significant assets or higher liability risks, it offers broad protection at an affordable cost.
How Does Umbrella Insurance Work?
If you find with a claim that goes over the limits of your current policy, umbrella insurance is here to give you that extra coverage to protect your business and assets from financial headaches. At Alpha, we offer umbrella insurance along with your existing liability policies.
Just a heads-up: umbrella insurance kicks in only if two things happen:
1. You’ve got the right underlying liability policy.
For example, if you have general liability insurance but don’t have commercial auto insurance, your umbrella will only cover what’s under general liability.
2. The limits of that liability policy are maxed out.