Umbrella/Excess Liability Insurance
Umbrella or excess liability insurance is a policy that will trigger when your underlying General Liability, Commercial Auto, EPLI, etc. coverage is exhausted. In our increasingly litigious society with lawsuits easily clearing the one-million dollar mark, this coverage is designed to give you a cushion appropriate to your business exposure. Umbrella/Excess Liability policies serve three purposes: provides excess limits when the limits of underlying policies are exhausted by 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). A good umbrella policy can add millions of dollars in liability coverage for less than pennies on the dollar. Umbrella/Excess Liability insurance is an excellent way to further mitigate the chance of your business having to pay claims out of pocket.
Call one of our commercial insurance experts today to see if you can benefit from an umbrella or excess liability policy.