You can put a value on your property, but there's no way to predict what you could owe after a catastrophic accident. If your business were found liable in a serious accident with many injuries, the damages could reach millions of dollars.
Umbrella liability, also called excess liability, adds protection for catastrophic events. It sits above your primary policies, which are listed with their limits on the umbrella.
Those primary policies are usually your general liability, commercial auto liability, and the employer's liability part of your workers' comp policy. The umbrella starts to pay when a covered loss uses up the primary policy's limit.
Most commercial umbrellas exclude employment practices liability, professional liability, product recall, workers' compensation, and claims from asbestos, pollution, war and terrorism.
