Umbrella Insurance in Jacksonville, FL
Unexpected events can occasionally lead to significant claims or lawsuits against you or your business. In such instances, umbrella insurance may provide additional liability coverage beyond your standard policy limits. This policy may help safeguard your assets and future earnings from financial risks tied to unforeseen circumstances.
What Is the Difference Between Personal and Commercial Umbrella? 
Personal umbrella insurance may cover liability claims that exceed the limits of your personal policies, such as homeowners or auto insurance. For instance, if someone sues you following an accident and your auto policy limit is exhausted, your personal umbrella insurance may cover the remaining costs.
Commercial umbrella insurance, on the other hand, is designed for businesses. It may extend liability coverage beyond the limits of a company’s general liability, workers’ compensation or commercial auto policies. This type of policy is ideal for businesses that face higher risks of lawsuits, such as construction companies or retail stores.
What Do Umbrella Policies Cover?
Coverage inclusions vary by policy, but most basic umbrella policies may cover the following:
- Legal fees and damages if you’re sued for personal injury or property damage
- Third-party injuries that occur on your property or business premises
- Liability claims such as libel and slander
It’s important to note that umbrella policies do not cover everything. It often excludes coverage for your own injuries, damage to your property and intentional acts.
How Much Does Coverage Cost?
Umbrella insurance is generally affordable, especially when compared to the coverage it may provide.
Commercial policies are often priced higher; rates depend on various factors, including revenue, workforce size, industry and risk level.
Lock in Your Coverage Today
Since 1969, Bacon Insurance has been a trusted name in providing optimal umbrella insurance policies for individuals and businesses. Contact us today to get started.