Umbrella INSURANCE
An alliance of leaders working together for small businesses.
Why You Need Umbrella Insurance
No one expects a disaster to strike his or her business. But every small business is vulnerable to a major catastrophe or a huge lawsuit. Think about some of the devastating losses you've heard about recently, or the large settlements that are awarded in courts. Some of these losses could exceed your primary insurance coverage unless you protect your business with umbrella insurance.
What Umbrella Insurance Is
As its name implies, umbrella insurance extends your coverage beyond the limits of your basic business insurance. Umbrella insurance is important because it covers unexpected events. It's generally not expensive and in certain instances, it could literally save your business.
How Umbrella Insurance Works
Umbrella insurance policies provide additional liability insurance coverage after the limits of your underlying policy are reached.
For Example,
If several people were injured on your property and required $1.5 million in medical treatment but the liability limit of your underlying policy is $1 million, your umbrella insurance policy could cover the additional $500,000 (if you're found liable).
| Cost of Medical Treatment | $1,500,000 | |
| Your Basic Liability Limit | $1,000,000 | |
| Umbrella Policy Could Cover | $500,000 | Gap |
Extra reinforcement!
That's exactly what this option provides. With The Hartford's umbrella insurance, you can get up to $10 million of liability protection over and above the limits of other insurance policies you have for your business. The Hartford will write umbrella coverage over business liability, auto liability and workers' compensation.
This document outlines in general terms the coverages that may be afforded under a Hartford policy. All policies must be examined carefully to determine suitability for your needs and to identify any exclusions, limitations or any other terms and conditions that may specifically affect coverage. In the event of a conflict, the terms and conditions of the policy prevail. All Hartford coverages described in this document may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc.