Get A Quote For Delaware Commercial Umbrella Insurance
Delaware commercial umbrella insurance offers an additional layer of liability protection by addressing expenses that exceed the limits of your existing liability coverage. Essentially, this type of insurance enhances your current liability policies by providing coverage once those limits have been exhausted.
For instance, if your business is deemed responsible for a customer's injury on your premises and you face a lawsuit amounting to $1.5 million while possessing only $1 million in liability coverage, a Delaware commercial umbrella policy could cover the $500,000 deficit, provided it falls within the policy's coverage limits.
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Commercial umbrella insurance cost
A Delaware commercial umbrella insurance policy with $1 million in coverage can cost as little as a few hundred dollars a year. However, umbrella insurance isn’t offered as a stand-alone coverage; it works in conjunction with your other liability coverages, such as general liability insurance –which is your most expensive policy.
What does commercial umbrella insurance cover?
Delaware commercial umbrella insurance covers the same types of costs as business liability insurance, such as medical expenses, attorney fees and damages when your company faces a lawsuit.
Delaware commercial liability insurance options
Besides Delaware commercial umbrella insurance, there are a number of other endorsements that could be appropriate for your business needs, including:
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Hired and non-owned Delaware auto liability insurance, which provides auto liability coverage when employees rent or use their own cars for business use.
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Employment practices Delaware liability insurance, which offers protection against employee lawsuits.
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Directors and officers Delaware liability insurance, which covers defense costs and damages made against a director or officer.
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Liquor Delaware liability insurance, which protects you against injury claims when alcohol is furnished during the course of your business operations.
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Fire legal Delaware liability insurance, which provides coverage in the event you are found liable for a fire in the space you rent or lease.