Being underinsured when the unexpected happens can be disastrous to you and your business. It’s important to have a commercial umbrella liability policy that provides protection above the limits of your standard commercial liability coverage. Nationwide can provide the answer.
What commercial umbrella insurance covers
Our commercial umbrella coverage protects businesses involved in the production, processing and distribution of agriculture-related products. It kicks in where your commercial auto and fleet, general liability or other liability coverage stops.
Umbrella insurance is an inexpensive way to provide additional limits of liability coverage, such as:
- Bodily injury or property damage that occurs on your premises, or is caused by your products or completed operations
- Crop application and seedsmen’s liability coverage
- Lawsuit defense costs
- Host liquor liability
- Pollution release caused by hostile fire, anhydrous ammonia release or mobile equipment
Tailored to meet your business needs
We’ll help you determine how much commercial umbrella insurance you need based on the type of business you own and how much coverage you already have.
We’ll assess your business liability exposures to determine the best limits for your umbrella policy. For example, a warehouse that’s not open to the public is at a lower risk for visitor injuries, so a smaller umbrella may be needed. On the other hand, a convenience store with high visitor traffic may need a larger umbrella policy.
Contracts with suppliers
You’ll want to review your contracts to determine who’s liable in the event of various losses – you or the supplier. Your findings will help determine your umbrella size.
For a corporation, generally only assets can be seized in a lawsuit. If you own a sole proprietorship, your personal assets could be seized as well, so you may want higher limits on your umbrella policy.
How likely are your employees to cause an accident? How experienced are they in your operations? If you have high-risk workers, you may want higher limits.
Ultimately, your insurance limits are your choice. Your experienced Nationwide agent will provide you with the assistance needed to make an informed choice.