Umbrella liability insurance provides an extra layer of protection against bodily injury and/or property damage. Essentially, it picks up where your business auto liability, general liability or other liability coverage stops.

How commercial umbrella insurance works

A commercial umbrella policy serves 2 distinct purposes:
  • It increases the liability limit that your company already has in existing, or underlying, liability policies. For instance, if your general liability policy offers $1 million coverage per occurrence or $2 million total, you could get a $2 million umbrella policy and increase those limits to $3 million per occurrence and $4 million total. 
  • It broadens coverage for things that your underlying policies may not cover. For instance, if your auto liability policy covers accidents that might occur in a specific area, an umbrella policy could expand the coverage territory.

Customize your umbrella policy to fit your business

Here’s what you need to provide for a customized umbrella policy quote.
  • The financial and operational details of your business
  • A copy of the declaration page of your current general liability and business auto insurance policies (if you have them)
  • Any prior losses your company has experienced. Keep in mind that a loss doesn’t necessarily mean your premium will be higher
  • A list of your company’s officers, their positions and experience, if they’re different from the owners of record
  • Annual payroll and a breakdown of employees who are full-time, part-time, subcontractors or consultants

Be sure to mention whether you carry professional liability, errors or omissions liability, liquor liability, employee benefits liability or employment practices liability insurance.

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Product, coverage, discounts, insurance terms, definitions, and other descriptions are intended for informational purposes only and do not in any way replace or modify the definitions and information contained in your individual insurance contracts, policies, and/or declaration pages from Nationwide-affiliated underwriting companies, which are controlling. Such products, coverages, terms, and discounts may vary by state and exclusions may apply.