Commercial Umbrella Insurance in Palm Springs, CA
Running a business comes with risks. Commercial umbrella insurance can provide extra liability protection, helping entrepreneurs like you safeguard business assets and finances and stay resilient when unexpected claims arise.
How Does it Work?
Commercial umbrella insurance provides extra liability coverage beyond the limits of certain standard policies like commercial auto and general liability. It can protect your business’s finances from large claims, legal fees and settlements when primary limits are exceeded.
What Does it Cover?
Standard commercial umbrella insurance can offer additional coverage for the following when underlying policies are exhausted:
- Medical expenses of a customer who is injured while on your premises
- Expenses related to causing damage to someone else’s property
- Legal costs if a customer or another person files a case against your business for bodily injury, personal and advertising injury or property damage
Is It Required?
Commercial umbrella insurance is not legally required in California. However, businesses with high-risk exposures are recommended to carry this policy.
How Much Does a Policy Cost?
The cost of a commercial umbrella insurance policy can depend on the following factors:
- Industry
- Size of the business
- Amount of coverage purchased
- Policies that you’d like to be covered
- Total asset value
Where Can I Purchase a Policy?
Contact Dean Mofidi Insurance Services to learn more about your commercial insurance options or request a personalized quote.