Short answer: A commercial umbrella adds liability limits above a business's general liability, commercial auto and employers liability policies, paying after those limits are used up. In Florida it is common for contractors, landlords with several rentals, vacation rental owners and condo associations. Nymble Insurance places commercial umbrella coverage in Florida. Call (813) 291-3484.
How a commercial umbrella works
The umbrella sits on top of scheduled underlying policies and pays covered claims above their limits. Some umbrellas also cover certain claims the underlying policy does not, after a retention. Underlying limits must meet the umbrella carrier's minimums.
Who in Florida needs one
- Contractors and trades; see business insurance.
- Landlords and LLCs with multiple rentals; see landlord DP-3.
- Short-term rental owners with pools or docks; see vacation rentals.
- Condo associations; see condo association insurance.
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Florida's minimum required auto coverage is low, for example $10,000 of property damage liability (§324.022), and it does not require bodily injury liability for most drivers. Businesses with vehicles often carry an umbrella over higher commercial auto limits.
Commercial Umbrella Insurance FAQ
What does a commercial umbrella cover in Florida?
Can landlords and condo associations buy a commercial umbrella?
Sources
Educational information only, not legal advice or a coverage guarantee. Coverage depends on the policy issued. Nymble Insurance, licensed Florida independent agency, license L131669, (813) 291-3484.