Get Extra Financial Protection in Just a few Clicks
At biBERK, we've ditched the traditional insurance model in favor of selling our products directly to you online or over the phone. And that means we make it easy to get the umbrella policy you need to pay for damages above and beyond the amounts covered by your existing policies. It's faster, more convenient, saves you up to 20% compared to other companies.
What is Small Business Umbrella Insurance?
An umbrella policy helps cover costs associated with:
In New York Umbrella is known as Commercial
Claims That Exceed Your Current Policy
When you have a claim that exceeds the limits of your current policy, umbrella insurance provides extra coverage to protect your business and assets from financial risk. At biBERK, umbrella insurance is available with existing liability policies.
Keep in mind that umbrella insurance can only be applied to a claim if two things happen:
1. You already have the appropriate underlying policy.
For example, if you have general liability with an umbrella policy but you don't have commercial auto insurance, then your umbrella policy only covers those items covered by general liability.
2. The limits of that policy have been reached.
Help Your Business With an Umbrella Policy
For example, let’s say Company X is being sued because a customer was severely injured after falling down the stairs when a railing collapsed. She wants Company X to pay her medical bills, loss of wages, and other damages—a total cost of about $2 million. The legal battle drags on, and Company X’s general liability policy maxes out at $1 million. Without their umbrella insurance policy, Company X would be responsible for the extra $1 million out of pocket if a $2 million verdict is reached. With an umbrella insurance policy, they’re covered for an additional $1 million.
Why biBERK Commercial Umbrella Insurance?
We're the experts when it comes to insuring small businesses.
Get a quote entirely online or speak with one of our insurance experts right away for help getting a quote, buying a policy, or answering any questions you may have.
We insure your small business directly, without a middleman or insurance broker, so we pass that savings on to you - up to 20% less than policies with other insurance companies.
We're part of Warren Buffett's Berkshire Hathaway Insurance Group with more than 40 years of insurance experience and over 100,000 satisfied customers.
Why do I Need an Umbrella Insurance Policy?
While not generally required, an umbrella policy gives you even more peace of mind. Just as an umbrella protects you from the rain, a small business umbrella insurance policy protects you from expensive claims that fall outside the coverage limits of your other small business insurance policies. Plus, adding umbrella insurance may cost less than increasing the limits of your general liability or commercial auto insurance.
Enjoy Superior Customer Service
When you need assistance of any kind, our licensed experts are just a phone call, email, or chat away. Plus, our small business insurance customers have access to low down payments, all available through biBERK.com. We also offer you and your employees hands-on insurance management and top-of-the-line customer service.
How Much Does an Umbrella Policy Cost?
On Average $200-$400 per Year
On average, the first $1 million of umbrella insurance will cost your small business between $200 and $400 per year. At biBERK, our small business customers have access to low down payments through our online system. Submitting claims can also be done entirely online—no more waiting days or weeks for a claim to go through.
Add Extra Insurance Coverage
Umbrella small business insurance policies are an affordable way to add extra coverage. Policies are issued in $1 million increments, and the premiums depend on a number of factors, including:
- Business activities
- Number of employees
- Annual revenue
- Number of years in business
- Claims history
Other Ways You can Protect Your Business with biBERK
We make it easy to submit claims and manage policies online for:
This legally mandated insurance policy that protects employees and the business if an injury or illness happens while they’re working.
General liability insurance protects your business against expensive lawsuits and also if a customer is injured while at your business.