Property Managers, Property Owners, Coop Boards and Landlords research and deal with many different types of insurance policies for their property.  One of the most commonly overlooked (and one of the most important) types of insurance is the umbrella insurance policy.  It’s important to let your client’s know that primary coverage may not be enough to cover them in the event of a catastrophic claim.  This is where their umbrella insurance would come into play.

Also called excess liability, a commercial umbrella insurance policy can give your clients additional liability coverage above the primary liability policies in place for their business. Generally, those policies may be their general liability policy, employer’s liability, and automobile liability.

Try providing an actual claim scenario that is pertinent to your insured’s business or exposures to try to persuade them into buying the coverage.

Once you’ve developed the need for a commercial umbrella, how do you decide how much coverage they need? Several factors come into play when determining the appropriate excess liability coverage. These factors include the type of business they own, the coverages they already have in place, as well as the assets of the business.

While standard coverages will generally take care of most situations their business will encounter, the most sophisticated agents at least offer umbrella coverage to their insureds annually. You may want to mention that New Empire Group provides a wide variety of Real Estate umbrella programs. Our Real Estate Umbrella program has limit options of $1 million, $5 million, $10 million, $15 million, $20 million, $25 million, $50 million, $75 million and $100 million for Community Associations, Apartments and most Real Estate risks.  Coverage is provided through the nation’s top carriers on an admitted basis in all states.

Talk to any of our knowledgeable associates about our commercial umbrella program, it could be the key to preserving your client’s company in the event of a serious claim.

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Check out the great Insurance Programs for Condominium Insurance, Cooperative Insurance, Apartment Insurance and Property Manager’s Insurance that New Empire Group, Ltd. offers!