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Personal Umbrella Vs. Commercial Umbrella Insurance-What Are the Differences?🤔
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What's the difference between commercial umbrella and personal umbrella insurance? Do you need both?
In this video, we'll explain the key differences between these two types of liability insurance. We'll also discuss when you might need both personal and commercial umbrella coverage.
The key differences between personal and commercial umbrella insurance policies are that personal umbrella insurance is designed for individuals who want to protect their personal assets from potential lawsuits resulting from bodily injury or property damage claims. Whereas commercial umbrella policies are tailored specifically for businesses which protects them from claims related to their operations and products.
It's important to note that a personal umbrella will not protect any businesses you may own or operate. Also, if for instance you own a rental property under an LLC, some insurance companies may not allow the LLC or a corporation to be included on a personal umbrella policy. This is when you would need to look into getting a commercial umbrella policy in order to have the right protection for your investment property.
Overall, personal and commercial umbrella insurance policies can be invaluable investments that protect you from financial disaster.
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In this video, we'll explain the key differences between these two types of liability insurance. We'll also discuss when you might need both personal and commercial umbrella coverage.
The key differences between personal and commercial umbrella insurance policies are that personal umbrella insurance is designed for individuals who want to protect their personal assets from potential lawsuits resulting from bodily injury or property damage claims. Whereas commercial umbrella policies are tailored specifically for businesses which protects them from claims related to their operations and products.
It's important to note that a personal umbrella will not protect any businesses you may own or operate. Also, if for instance you own a rental property under an LLC, some insurance companies may not allow the LLC or a corporation to be included on a personal umbrella policy. This is when you would need to look into getting a commercial umbrella policy in order to have the right protection for your investment property.
Overall, personal and commercial umbrella insurance policies can be invaluable investments that protect you from financial disaster.
CLICK BELOW TO GET A QUOTE
Connect with us:
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