You never know when it might rain. So, just like the name implies, this type of policy acts like an umbrella, providing protection against a wide range of potential financial dangers and unforeseeable mishaps.
A commercial umbrella insurance policy is necessary for a business. It provides an extra layer of protection for situations where a lawsuit or major accident exceeds the limits of your underlying insurance coverage. It is designed primarily to provide liability coverage for catastrophic liability claims or judgments.