An umbrella serves two purposes. First, it provides excess liability limit over the scheduled underlying policies. Second, it fills some gaps in the underlying coverage. There is no standard umbrella policy. Therefore, coverage comparison is a must. Key areas of comparison are exclusions, deductible, whether a follow-form is offered over unusual underlying exposures, limits, and defense cost (in or outside the limits).
A customer falls, a product fails, an employee makes a mistake. Just a few reasons your business could go under. But having right amount of liability insurance can keep you on track.