Contractors Umbrella Insurance

Contractors Umbrella Insurance?

Contractors umbrella insurance provides additional liability coverage above and beyond the limits of your existing general liability, auto liability, and employers’ liability policies. This type of insurance helps protect your business from large claims and lawsuits that could exceed your primary coverage limits.

 

Why I Need Umbrella Insurance?

Contractors umbrella insurance is essential for several reasons:

  • Increased Protection: Provides an extra layer of security by extending the coverage limits of your primary liability policies.
  • Coverage Gaps: Fills in gaps that may exist in your primary coverage, ensuring comprehensive protection.
  • Risk Management: Helps protect your business assets from large and unexpected claims.

How Contractors Umbrella Insurance Works

Contractors umbrella insurance works by kicking in when the limits of your underlying policies are exhausted. For example, if you have a general liability policy with a $1 million limit and face a $1.5 million claim, the umbrella policy would cover the additional $500,000.

 

Coverage Examples

  • General Liability: Extends coverage for bodily injury, property damage, and personal injury claims.
  • Auto Liability: Provides additional coverage for auto-related accidents and damages.
  • Employers’ Liability: Covers claims related to employee injuries and work-related incidents.

Benefits of Umbrella Insurance

  • Peace of Mind: Knowing that you have extra protection against large claims.
  • Financial Security: Protects your business assets and future earnings.
  • Flexible Coverage: Tailored to fit the specific needs of your contracting business.

 

Obtaining contractors umbrella insurance involves the following steps:

  1. Assess Your Needs: Determine the amount of additional coverage you need based on your business size and risk exposure.
  2. Select a Policy: Choose a policy that best fits your needs and budget.
  3. Purchase the Policy: Complete the application process and purchase the insurance policy from P&G Insurance.

Get Covered Today

Ensure your business is protected with contractors umbrella insurance. Contact us today for a personalized quote and secure your business against large and unexpected claims.

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