The Right Fit: Customizing an Umbrella Insurance Policy

No two businesses are alike. Professional practices, such as a veterinary office or a law firm, operate very differently than an auto body shop full of machinery. Their respective liability insurance needs are that different too.

That’s why commercial umbrella policies are tailored to the needs of different businesses. Owners of an auto body shop might need an umbrella policy to offer expanded coverage for garage liability, but conversely, a law practice that entertains clients might need expanded liquor liability limits.

When you meet with an agent to discuss umbrella insurance policies, be to request a quote that is customized to meet the specific needs of your business.

How it works

Commercial umbrella policies serve two distinct purposes. One is to expand the limits that your company already has in its existing, or underlying, liability policies. For example, if your general liability policy offers $1 million coverage per occurrence or $2 million total, you could expand those limits to $3 million per occurrence and $4 million aggregate with a $2 million umbrella policy.

But commercial umbrella policies can also broaden coverage for things that your underlying policies may not cover. Say your auto liability policy only covers accidents that might occur in a specific area, otherwise referred to as a coverage territory. An umbrella policy could expand the coverage territory for your auto usage.

When you sit down to talk about your insurance needs with a Nationwide agent, he or she will start by understanding your business and then ask about the kind of insurance you already have. When you’re finished, you should have a proposal for an umbrella policy with just the kinds of coverage you and your business need.

Why Nationwide?

We’re one of America’s largest and most stable insurance companies, with an A+ (superior) rating from A.M. Best and more than 80 years of insurance experience. Call your local Nationwide agent today to learn how your business can benefit from Nationwide’s eight decades of expertise. We’re deeply experienced at writing umbrella insurance policies and will quickly create a competitive bid that meets your needs.

A local Nationwide agent can help determine your umbrella policy needs, by reviewing what kind of policies and coverage you already have. It’s an easy and essential step in protecting your business and everyone who relies on it.