Do I need umbrella insurance coverage?

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PostPosted: Wed Sep 04, 2013 11:05 am   Post subject: Do I need umbrella insurance coverage?  

How do I decide whether or not I require umbrella insurance policy. I've a fleet of delivery trucks. Though I do have adequate insurance for all, i'm a bit anxious. If I need, how much then?

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PostPosted: Wed Sep 04, 2013 12:53 pm   Post subject:   

You sit down and discuss this with your local agent.

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PostPosted: Thu Sep 05, 2013 7:11 am   Post subject:   

If you really believe you have adequate insurance to save your business vehicles, then perhaps you don't need umbrella insurance coverage.

However, a good umbrella insurance policy could protect you from many large liability issues and lawsuits that exceed your basic auto insurance liability limits.

If I need, how much then?

This completely depends on the type of delivery trucks you operate, the nature of the overall business and the potential risks it is exposed to. You should sit with a local insurance agent who has good knowledge of umbrella insurance. He/she can tell you how much you actually require.


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PostPosted: Thu Sep 05, 2013 2:52 pm   Post subject:   

Umbrella liability coverage is denominated in million-dollar amounts. It requires that all applicable underlying insurance amounts are high limits of liability. An umbrella liability policy will not only apply to a commercial auto policy, but also to your commercial general liability policy and similar coverages. Workers' compensation claims, however, are usually excluded from commercial umbrella policies..


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