Commercial Insurance Solutions

What is Umbrella Insurance?

Umbrella insurance is a type of liability insurance. It is designed to protect your business's assets and its future income above and beyond the limits on primary policies. It's sometimes called "excess insurance," but that isn't always accurate. Excess insurance coverage is only activated when the coverage of all other underlying policies have been exhausted. Umbrella coverage can fill gaps in those underlying insurance policies at any time.

This kind of policy may be more accurately called umbrella liability insurance, as it only protects your business against damages from lawsuits and other claims. Though it used to be regarded as a convenience for the very wealthy, today in south Florida umbrella liability insurance is used by large and small businesses alike to protect the company's assets from seizure in the event of a lawsuit.

​

At American Insurance Brokers, we know you've invested many hours and a lot of money to build your business. Stop by one of our Miami offices or any of our south Florida offices to discuss how you can use umbrella coverage as an extra layer of protection for your investment.

​

Are Your Umbrella Liability Insurance Limits High Enough?

In the current times, anyone can be sued for damages resulting from injuries that may or may not have been their fault. Though the courts may consider your income, debts, lifestyle, and existing coverage before awarding damages, in liability lawsuits a judgment against you can exceed your net worth. Businesses are particularly vulnerable to these kinds of personal injury lawsuits. Umbrella insurance for $1 million or more may be the only protection you have against having your assets and your business's assets seized to cover court-awarded damages.

​

In south Florida, contracts with landlords, vendors, or mortgage companies may require higher limits of insurance. Once the limit of your liability insurance is reached on your primary policy, you could be personally liable for the difference. Umbrella insurance will cover you when a lawsuit exceeds the limit of your other commercial liability insurance coverage, adding a second layer of protection. Some insurance experts recommend umbrella coverage of $5 million for small businesses as a minimum level of protection, a relatively inexpensive investment that will return huge dividends in peace of mind.

​

Finding Umbrella Liability Insurance in Miami

American Insurance Brokers can source a full line of umbrella insurance and excess liability options to protect your company. Combined with our commitment to claims and customer service, it’s a great insurance value. Any of our Miami agents are fully qualified to estimate the amount of umbrella coverage your business needs. Don't wait any longer, call or stop by today to see how we can help you get the peace of mind you deserve.