Umbrella/Excess Liability
What is Umbrella/Excess Liability Insurance?
This coverage is a prudent decision to help protect against lawsuits that can cost a business millions. The high costs of a lawsuit can catch a business off-guar but, umbrella insurance can keep you from permanently closing your doors. Also, some contracts may require higher limits than your current coverage.
An Umbrella or Excess Liability Insurance policy is an affordable way to get higher limits than your underlying policies.
Coverages
Umbrella protection is available with various coverage limits from $1,000,000, or $5,000,000 up to $15,000,000 or $25,000,000 depending on the needs of the business and underwriting. These limits are in excess to the Underlying limits of General Liability, Auto Liability, Employers Liability, and/or Directors and Officers Liability.
Some policies may provide additional coverages that the underlying policies do not. For example, blanket Contractual Liability or Liquor Liability may be included with your excess policy where you General liability may limit or exclude these coverages. This coverage can also extend underlying limits such as Uninsured Motorist.