What’s commercial umbrella insurance?
Commercial umbrella insurance is one way you can get extra liability coverage for your business. If someone files a claim against you and it goes over your underlying commercial policy limits, you may have to pay the remaining costs. See note 1
Commercial umbrella is available through the USAA Insurance Agency.
How’s it different from excess liability insurance?
Excess liability insurance is another way to get extra protection for your business. Commercial excess insurance can provide coverage over one business policy per claim, while commercial umbrella insurance can provide coverage over multiple business policies.
Example: Let’s say one of your commercial vehicles rear-ends another driver. The repair costs, medical bills and legal defense costs could be more than what your business’ auto and general liability policies will pay.
Either commercial umbrella or excess liability insurance could help pay extra costs, or they could work together if you have both. See note 2
What can umbrella and excess liability cover?
Both can help cover these things if the costs go above the limits of your underlying policies.
- Someone's injury or damage to another's property
- Slander or libel
- Using others' advertising ideas
- Selling a defective product
- Copyright infringement
- Failing to provide services at the level expected
- Issues around federal and state employment practice law
- Errors and omissions, like an accountant providing inaccurate financial advice
Why choose us for business insurance?
Whether you need excess liability coverage, umbrella coverage or both, a commercial specialist can help you find the right amount of protection. If you have questions about a policy that fits your needs, call 800-292-8135.
And if you have to report a claim, you can expect USAA-level support throughout the process.
Commercial umbrella and excess liability FAQ
There are many factors that determine the costs, including:
- Size of business
- Type of business
- Amount of coverage
Every business is different. The amount you need often depends on the amount of risk you have.
You may also have some customers, vendors or landlords who require you by contract to have a certain amount of liability coverage.
It depends on the limits and coverages of your current policies. They may not allow you to increase your coverage to the full amount you need.
Umbrella insurance or excess liability might also be more cost-effective ways to provide higher limits.
Help protect your company’s future.
To get a quote or speak with a USAA Insurance Agency commercial specialist, call 800-292-8135.
