Understand that business umbrella insurance coverage is only as good as the customer service

Umbrella insurance business coverage provides coverage in addition to the normal liability coverage. If your umbrella coverage is through the same company as your business liability coverage, your protection should be seamless. If you purchase commercial umbrella insurance coverage from a different company, it is important that the companies work together to defend, settle and pay claims.

I recommend: The first stop when shopping for a commercial insurance policy should be your state's Department of Insurance. Once you have narrowed down your choices, visit FreeAdvice to read other's experience with your choices.

Avoid under- or over-insuring with commercial umbrella liability insurance

While not as devastating as under-insuring, over-insuring is a waste of money. A well-trained insurance agent with experience insuring companies in your field is important to have the best coverage.

I recommend: The National Federation of Independent Business provides a checklist that helps you determine where your business may be exposed to risk. For more detailed assessment of your risk, contact an insurance agent that specializes in your industry. Agent and Broker, an industry trade magazine, provides a list of insurance specialties and the companies that service them.

Find competitive pricing for business umbrella insurance

Comparison shopping for insurance policies is difficult because you often are not comparing the exact same product. Before making your final decision, decide what type of coverage you need and what exclusions you can live with. Then choose the company that offers the most competitive price while offering the coverage that you need.

I recommend: There are a variety of online sites that provide insurance quotes instantly. Visit well established sites such as 2Insure4Less and Buyer Zone for quick and accurate quotes.