Umbrella Policy Explained

ok well on your liability you typically have 1 million per occurrence okay so 1 million per occurrence takes care of anything any bodily injury or property damage that you might do the business might do the auto typically has 1 million of liability and you asked earlier about an umbrella all the umbrella does span is it goes over the top it creates additional limits and it sits over the top look at it like an umbrella and you have liability underneath it you have auto underneath it and if you have work comp you have work comp employers liability under it as well okay so it takes care of three areas it just increases all those limits an additional million two million whatever your umbrella is it's typically a minimum of 1 million and it sits over the top of a million so you'd have 2 million 2 million 2 million and so on and so forth so umbrellas are highly recommended if you have a need out there with a large fleet a lot of times the fleet or the autos are your big biggest exposure when it comes to litigation they could cause the most damage so you want to be sensitive to that but back to selling a little bit too much maybe some agents are found guilty of selling too much limit you don't really need 10 million if you have one vehicle and very little liability exposure whereas if you have a fleet of 30 or 40 now you might have a larger need for more umbrella more excess you know because their exposure is out there the bigger your company is the bigger the if I'm get if I'm hearing this right Jeff figure your company is the bigger your potential bullseye is on your back and so then if something does happen of course you have more risk out there because you have more people and the play the fact of the matter is the more feet that are outside of the door the more likely something is to happen there's a hundred percent right so then you take the risk of getting a larger