Regardless of the size or efficiency of your company, every business is at risk of a devastating claim resulting from an unforeseen incident. For instance, imagine you own a retail store or apartment building in Maryland, and a customer trips over the carpet, suffering a severe head injury.
This could potentially result in liability claims amounting to millions of dollars in medical and other expenses. Would your existing business liability insurance cover the entire amount? Could your business savings or revenue cover any shortfall?
If not, Commercial Umbrella Coverage is essential. This coverage extends beyond the limits of your standard business liability insurance, providing up to $10 million in additional funds to handle such situations.