If you have a business in Evansville, IN, you may be wondering how to provide protection for coverage gaps, especially in the event of a cyberattack. If you’re thinking about opting for umbrella insurance, it’s important to understand what is not covered, and how you can add further protections to your business with the help of the right insurance agency. At Trestle Insurance Agency Inc., we provide assistance to clients who are seeking additional protections with the right insurance policies.

What Standard Umbrella Insurance Does Not Cover

Standard umbrella insurance is a way to extend liability protection beyond traditional limits of policies. This typically adds between $1 – $5 million of extra coverage when accidents, lawsuits, or even injuries occur on your property. Unfortunately, umbrella policies usually do not cover:

• Online fraud
• Identity theft
• Social engineering scams
• Cyber extortion or ransomware
• Theft of digital assets
• Hacked bank accounts

What Standard Umbrella Insurance Can Cover

Business insurance policies that commercial umbrella insurance typically broadens include:

• Commercial general liability
• Commercial auto
• Workers’ compensation
• Product liability

Note that commercial umbrella insurance only covers claims if you have the appropriate underlying policy to start with. It can’t provide brand-new coverage. For example, if you don’t have an existing commercial general liability (CGL) policy, your umbrella insurance won’t cover CGL claims.

Give Us a Call at Trestle Insurance Agency Inc.

Knowing how to properly protect your business is crucial as you begin to grow and expand. Even if you’re new to the digital realm, the right insurance policies can provide a sense of security and peace of mind you deserve. To learn more about umbrella insurance and additional add-ons in Evansville, IN, contact Trestle Insurance Agency Inc. today.