Supplementing Your Coverage
David G. Sayles Insurance Services provides small and midsize businesses throughout New Jersey with commercial umbrella insurance that will respond in an environment where high-exposure liability claims are common and can jeopardize the financial health of an operation. The policy provides an extra layer of security, offering additional coverage for costs associated with lawsuits, legal fees and settlements.
For example, let’s say you have a premises liability claim that results in a $2 million settlement. Your general liability insurance has a limit of $1 million to cover the loss. Your out-of-out-pocket costs would then be $1 million. With a $3 million commercial umbrella policy, the remaining $1 million owed on the settlement would be paid. Your assets would not be affected.
We will be happy to review your primary liability policies and discuss how a commercial umbrella policy can supplement the coverage you already have.