Consider your needs for Paramus commercial liability insurance. We all need to keep business operations going smoothly and without interruption, so your general liability policy may need to be boosted by adding another product to your insurance package. What will give your business the best coverage for its needs, an excess coverage policy or a commercial umbrella?
For both umbrella and excess to start providing coverage, the primary liability insurance must be fully used first. The primary feature of the commercial umbrella policy is that there is a wider range of liabilities covered versus an excess coverage policy. Depth of coverage can begin with the first dollar loss, and the definitions of what is covered will be broader than the general liability portion of your insurance as well.
Excess coverage is stacked on top of a basic liability policy. It can kick in when the basic liability policy has been exhausted. Excess coverage does not broaden the range of coverages beyond the categories of the original liability policy.
If the categories of your liability exposure are broad, umbrella may be the way to go. If your liability is limited to the categories in your general policy but you want some peace of mind with higher compensation limits, excess coverage may be the way to go for you. Either way, Paramus commercial liability insurance will keep your business covered.