A commercial umbrella policy, which is often called excess liability, affords additional coverage to the smaller policies which are in place for your business. Usually, those smaller policies may include any combination of your employer’s liability, general liability policy, and hired and non-owned motor vehicle policies. Several factors come into play as you figure out the appropriate excess liability coverage. Some of those factors include the kind of business you own, the assets of the business, and the coverages your business already has in place.
You should also remember that a commercial umbrella or excess liability policy will not protect either errors and omissions or a professional liability policy.