Posted by William Bronchick on April 08, 2002 at 21:38:51:
Most people misunderstand what an umbrella policy is for. An umbrella covers that portion ABOVE the limits of existing policies. It does not cover business liability itself. You would need a general liability policy for your business corporation. The umbrella would cover that amt of liability over and above the policy limits of your general liability policy, automobile policy and homeowner’s policy.