What is an Umbrella Insurance Policy?

An umbrella insurance policy extends the coverages and limits of your existing policies and provides additional coverage specific to your business. Umbrella insurance is meant to augment and enhance your existing general liability policies, which provide comprehensive base coverage for most of your business operations. Getting an umbrella insurance policy with Oyster includes additional benefits as well, some of which include getting a highly competitive rate, coverage tailored to your business needs, and an online application and servicing experience.

What does it cover?

Injury and medical payments

Covers injury and medical payments to people who are not employees if it occurs on your property, or otherwise by your products or operations.

Lawsuits and legal fees

Covers legal and court fees if your business is sued for reasons including false or misleading advertising, libel, slander, copyright infringement, and more – regardless of fault.

Damage to others’ property

Covers property and legal costs associated with accidentally damaging others’ property.

Who needs an Umbrella Insurance Policy?

Most individuals with a liability policy should consider an umbrella for extended protection for a minimal cost.

Liability Risks

If you have liability risks then there is always a chance your existing policy may not have enough coverage.

Commercial Auto Exposure

Vehicle usage increases the opportunity for a claim to happen since your operations are not confined to buildings.

Service Operations

Providing a service, from bike repair to house cleaning, has one of the highest likelihoods for high cost claims.

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