Business Umbrella Insurance
Safeguard your business assets with Lafayette Insurance
A business umbrella can help protect you above and beyond your underlying coverage in the event of an unexpected lawsuit. Not only does it provide blanket coverage (up to your policy limits) over your primary policies… it also broadens the perils.
Examples of an Umbrella claim:
Driver hits another vehicle that exceeds your commercial auto limits
Customer injured at your place of business
A fire that starts at your business and migrates to your neighbor’s business
If you have a 1 million dollar limit on your underlying policy and have a 1.5 million dollar claim, your umbrella would kick in and pay the extra $500,000 on a covered loss.
Prefer to talk? Call or text 765-474-2300.
Commercial Umbrella Insurance in Lafayette, Indiana
One serious accident can produce a claim larger than your primary policy limits. A commercial umbrella policy adds an extra layer of liability protection on top of your general liability, commercial auto and employer’s liability coverage, so a large judgment doesn’t come out of your business assets. Lafayette Insurance helps businesses across Lafayette, West Lafayette and Tippecanoe County choose umbrella limits that match their risk.
How a business umbrella works
Your underlying policies pay first, up to their limits. If a covered claim goes beyond those limits, the umbrella picks up the rest, up to its own limit. Umbrellas are commonly sold in $1 million increments, and the added protection usually costs far less than raising the limits on each policy.
Who should consider a commercial umbrella?
- Businesses with vehicles on the road, especially trucks, vans or employees driving for work
- Contractors whose contracts require higher liability limits
- Restaurants, bars, event venues and retailers with heavy customer traffic
- Apartment and commercial property owners
- Any business with significant assets to protect
Contract and certificate requirements
General contractors, property managers, schools and government entities often require $2 million or more in liability coverage before you can start work. An umbrella is usually the most cost-effective way to meet those requirements, and our office can issue certificates of insurance showing the coverage.
Building your business insurance plan
An umbrella only works if your underlying policies are set up correctly. We review your general liability, commercial auto and workers compensation together, then quote the umbrella with ERIE and other carriers so everything fits. For personal coverage, see our personal umbrella page.
Business umbrella FAQs
What’s the difference between an umbrella and excess liability?
An umbrella can sometimes cover claims the underlying policies don’t. Excess liability strictly follows the terms of the policy beneath it. We’ll explain which one you’re being quoted.
Does a business umbrella cover property damage to my building?
No. Umbrellas cover liability to others. Your own property is covered by your commercial property policy.
Call 765-474-2300 to add an umbrella to your business coverage.
Our process
Compare Quotes from Lafayette Insurance
01. Provide Details
Tell us a little bit about what you are wanting to insure.
02. Discuss Coverages
We educate you on insurance coverages relevant to you.
03. Compare Quotes
We shop multiple companies to find the best rates and protection.
04. Pick Your Policy
Choose the insurance plan that works best for your individual needs.
Lafayette Insurance Reviews
What our Clients Say
★★★★★
Joe and his staff are top notch. I never worry if I have an issue involving insurance. They are there to help make the experience worry free and professional. It’s worth your time to give Lafayette Insurance a call.
Stacey Minier
★★★★★
Tremendous support from Joe Couch. He was readily-accessible, diligent, and a tremendous help through the process of switching policies. Would recommend to everyone.
Daniel Layman
★★★★★
Joe Sr. and Jr. are both professional and do the very best they can to get you the best deal possible. They have reached out to me to let me know of opportunities to decrease my rates before my terms were up so I could plan accordingly. They always answer when I text or call with a problem. Can’t say enough good things about this company or the people running it!
Jon Chapin
★★★★★
Very professional and responsive. After calling several agencies in the area, our quote was 15% lower than anywhere else!
Devon Moore
★★★★★
Joe Jr. looks out for you. Initially he had me with one insurance agency. 1 year in and upon finding a new deal, he contacted me, helped me save some money, and found a more reliant insurance company for my family’s vehicles. He is personable and offers good advice without trying to overexert influence. I have not had to deal with a wreck yet and working through a claim, but I will update this post if it happens.
Isaac Schumacher
★★★★★
They are very nice and will find the best deal for you. They also follow up with you in the future to better you in better insurance for less.
Jasen Shaver