Abram Interstate Insurance Services, Inc., CMGA

Helping Independent Insurance Agents Since 1996

Not All Umbrellas Are Created Equally | Commercial Umbrella Insurance Product Highlight

Published on November 1, 2016

Businessman standing with umbrella and little storm cloud

We’ve talked here before about how valuable an investment umbrella insurance policies can be for your customers. They go above and beyond their existing policy limits, and in a litigious state like California, it’s a no-brainer. The amount of additional coverage your customers get for the low additional premium adds an entire new level of coverage and peace-of-mind for your valuable customers.

Except when it comes to their businesses. For your customers who own their own businesses, a commercial umbrella policy is highly advisable. Business owners carry more exposure than non-business holders, and their existing insurance policies may not cover them entirely if or when a claim arises. Commercial Umbrella Insurance Policies can help to not only extend their current coverage, but also help to fill have coverage gaps they may have.

According to California Citizens Against Lawsuit Abuse, over the course of fiscal year 2012-2013, 7.7 million lawsuits were brought against small businesses in California.

The reality is that life happens, mistakes happens, and often, your customers don’t have to be doing anything wrong as a business owner in order to get sued.

Ronald S. Hodges writes in Business Litigation: “Business owners who have been sued understand all too well that many lawsuits are filed by people who are “fishing” for reasons to sue. The problem is that often times it is less expensive to settle the case rather than aggressively defend against the frivolous claim.”

Don’t let your customers get taken under by one of these frivolous lawsuits. Help them get the additional coverage they need, at a minimal extra cost.

Commercial Umbrella Product Highlights:

  • Can be written as a standalone policy
  • Can be written as part of a business package
  • Multiple carrier availability

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Abram Interstate Insurance Services, Inc. is a California wholesale insurance broker (CMGA) that has licensing and expertise to place business in both admitted and non-admitted markets for personal lines insurance and commercial lines insurance in California and surrounding areas.

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