{"id":3658,"date":"2022-09-21T17:04:07","date_gmt":"2022-09-21T17:04:07","guid":{"rendered":"http:\/\/18.116.89.38\/?page_id=3658"},"modified":"2022-11-03T18:39:51","modified_gmt":"2022-11-03T18:39:51","slug":"commercial-umbrella-policy","status":"publish","type":"page","link":"https:\/\/dlrinsurancegroup.com\/es\/commercial-umbrella-policy\/","title":{"rendered":"Commercial Umbrella Policy"},"content":{"rendered":"
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Find out the benefits of a Commercial Umbrella Policy in Florida<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Commercial Umbrella Policy<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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A commercial umbrella policy provides \u201cextra\u201d coverage over your general liability, property, and business auto policies for a particular business.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What Does a Commercial Umbrella Policy Do?<\/strong><\/p>

The best way to answer that is with an example. Let\u2019s say one of your workers was in an accident and they ended up hurting an individual. Furthermore, that individual\u2019s medical bills were $1,000,000! Most umbrella rules mandate that you have $500,000 in business auto medical liability, also known as \u201cbodily injury.\u201d Your business auto coverage would cover the first $500,000 and then the remainder would be up to you! An umbrella policy takes the \u201cYOU\u201d out the scenario and replaces it with the insurance company\u2019s money. If your umbrella was $1,000,000, then the umbrella could easily pay out the remaining $500,000 and your business would not face financial ruin. There are many other scenarios like this that are surprisingly typical, albeit horrific, for everyone involved.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t

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What is covered?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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That is a great question! Most umbrellas would respond with the answer, \u201cIf it is covered on your underlying policies, it is usually covered on the umbrella policy.\u201d That raises a VERY BIG CONCERN for most umbrellas. A business owner and agent must be on top of things to make sure the entire risk is protected. If a business owner is sued and the base policy\u2014whatever it may be\u2014does not have insurance for it, the umbrella would not respond either!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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Frequently Asked Questions<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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What Coverages Do I Need on My Underlying Policies for the Umbrella to Respond?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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All umbrellas typically have a schedule of minimum coverage that the policies must have in order for the umbrella to respond. For a general liability policy, it may be an underlying limit of $2,000,000. For the business auto policy, it may be underlying limits of $500,000 for bodily injury. It is up to you and the agent to make sure you have adequate coverage on the base (or underlying) policies for your umbrella to respond.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What if My Umbrella Policy Requires a Certain Amount of Coverage and I Do Not Have it? <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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An example would be if your auto insurance has $100,000 in bodily injury and the umbrella states you need $500,000 in bodily injury. How would your umbrella respond? The short answer would be that it would not! Because you did not follow the rules, the umbrella would be under no obligation to respond or defend you. This can lead to MAJOR holes in your coverage.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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How Do I Choose the Right Amount of Coverage for Me? <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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There are many factors. It depends on what you do, the number of employees you have, your fleet of trucks or cars, and what the revenue of the business is. It is not based on any ONE thing. That is a conversation for you and your agent.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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Is Anything Excluded?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Yes: anything to do with lead, asbestos, or silica is usually excluded. Also, any act of war or terrorism is usually excluded. Professional liability (errors and omissions) as well as discrimination and employment practice suits are generally excluded as well. This list is not exhaustive but does provide a gauge. You will need to read your own policy carefully to make sure you understand what is covered and what is not.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

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What if My Umbrella Is for an Amount Lower than a Court Order is Requiring Me to Pay?<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Again, take for example a tragic situation. Let\u2019s say a person slipped and fell, hitting their head as they were coming into your place of business, and you were found at fault. Let\u2019s also say that the medical bills totaled $5,000,000. If the umbrella is for $2,000,000 and the underlying policy is for $2,000,000, who would come up with the remaining $1,000,000? It would be the business! That is why it is extremely important to have a conversation with your agent BEFORE something like this happens!<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t

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\n\t\t\t\t\t\t\t\t\tMejore su cobertura, reduzca sus costos y descubra por qu\u00e9 DLR se est\u00e1 convirtiendo en la primera opci\u00f3n para las empresas locales. \t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t
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\u00bfBusca el mejor seguro en Florida? Descubra en qu\u00e9 se diferencia DLR. Tenga una conversaci\u00f3n con un experto que se tomar\u00e1 el tiempo para averiguar exactamente lo que necesita. <\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Ll\u00e1manos hoy al (941) 361-1532<\/a><\/h3>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
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Find out the benefits of a Commercial Umbrella Policy in Florida Contact Us Commercial Umbrella Policy A commercial umbrella policy provides \u201cextra\u201d coverage over your general liability, property, and business auto policies for a particular business. What Does a Commercial Umbrella Policy Do? The best way to answer that is with an example. Let\u2019s say […]<\/p>","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"disabled","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"enabled","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-3658","page","type-page","status-publish","hentry"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/dlrinsurancegroup.com\/es\/wp-json\/wp\/v2\/pages\/3658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dlrinsurancegroup.com\/es\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/dlrinsurancegroup.com\/es\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/dlrinsurancegroup.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dlrinsurancegroup.com\/es\/wp-json\/wp\/v2\/comments?post=3658"}],"version-history":[{"count":8,"href":"https:\/\/dlrinsurancegroup.com\/es\/wp-json\/wp\/v2\/pages\/3658\/revisions"}],"predecessor-version":[{"id":3840,"href":"https:\/\/dlrinsurancegroup.com\/es\/wp-json\/wp\/v2\/pages\/3658\/revisions\/3840"}],"wp:attachment":[{"href":"https:\/\/dlrinsurancegroup.com\/es\/wp-json\/wp\/v2\/media?parent=3658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}