A policy designed to provide protection against catastrophic losses. It generally is written over various primary liability policies, such as the business auto policy (BAP), commercial general liability (CGL) policy, watercraft and aircraft liability policies, and employers liability coverage. The umbrella policy serves three purposes: it provides excess limits when the limits of underlying liability policies are exhausted by the payment of claims; it drops down and picks up where the underlying policy leaves off when the aggregate limit of the underlying policy in question is exhausted by the payment of claims; and it provides protection against some claims not covered by the underlying policies, subject to the assumption by the named insured of a self-insured retention (SIR).
We all want to save money when it comes to insurance. But cut-rate insurance that doesn’t provide the coverage you need or expect is not much help when it comes time to file a claim. When the unexpected occurs, you want to know the insurance policy you have been paying for is going to respond.
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Doerfer Insurance Services has been insuring businesses, automobiles and homes for decades in Maryland and proudly serve residents and businesses of the following areas: Baltimore, Baltimore County, Towson, Pikesville, Garrison, White Marsh, Harford County, Bel Air, Carrol County, Howard County, Anne Arundel County, Baltimore City and more. Baltimore car insurance, Baltimore auto insurance, baltimore homeowners insurance, baltimore business insurance.