Commercial Umbrella Insurance in Bethpage, NY & Levittown, NY
Lawsuits and claims can sometimes exceed the coverage provided by general liability, auto liability or employers’ liability insurance. Commercial umbrella insurance may cover these gaps and extend the limits of your existing business’s policies.
What Does Commercial Umbrella Insurance Cover? 
Standard commercial umbrella policies may cover the following:
- Third-party bodily injury
- Third-party property damage
- Liability claims involving company vehicles
- Employee injury claims not covered by workers’ compensation
- Legal defense costs
Policies generally do not cover damage to your own assets, professional errors or intentional acts. Remember to review exclusions before purchasing a policy.
How Much Does Commercial Umbrella Insurance Cost?
Commercial umbrella insurance rates usually depend on factors such as the type of business, workforce size, industry risk level, location and claims history. Generally, businesses with greater liability exposures or those operating in high-risk industries may pay more for coverage.
Factors to Consider Before Buying a Policy
Before adding umbrella coverage, evaluate your current liability limits and the nature of your business operations. Consider the following:
- Coverage gaps—Make sure your underlying policies meet the minimum requirements for umbrella coverage.
- Policy limits—Determine how much additional coverage you need based on your risk exposure.
- Cost vs. benefit—Premiums vary depending on your industry, claims history and coverage amount.
Get Covered Today
Contact James V. Funaro Agency today to learn more about commercial auto insurance. Our agents can assess your business needs and help you choose an appropriate policy.