In an era where we are seeing power interruptions, flooding, wildfires, and tornadoes in the news, sometimes all in the same neighborhood, it pays to ask careful questions about your insurance coverage as a construction contractor. Is it possible that your potential damages might exceed the total amount of coverage you have across your liability, property, and builder’s risk policies? And, if so, then what?

Commercial Umbrella Insurance acts as an extension of your coverage, providing coverage when other policies are maxed out or met with unusual exclusions. For example, if you have claims that exceed your general liability policy, a commercial umbrella insurance policy will cover the overage, keeping your money working for you.

Note that umbrella insurance is not a replacement for other coverages, but an expansion of them. It is designed for circumstances with very high potential coverage limits, very large projects, and even specific equipment transportation cases. Your insurer can provide you with the specific details that apply to your company and ongoing and upcoming projects.

Don’t get your commercial umbrella insurance from just anyone. Make sure your agent is familiar with your business, the scope of your projects, and your potential for growth to get the policy best suited for you. Koch Insurance Group can make sure you have the correct policies for your contracting business.