Excess Liability Insurance

Excess liability insurance, also known as umbrella insurance, is a type of insurance policy that provides additional liability coverage beyond the limits of a primary liability policy. It is designed to protect individuals or businesses from potentially catastrophic losses in the event of a lawsuit or other liability claim.

For example, if you have a car accident and are found to be at fault, your auto insurance policy will cover damages up to their limit. However, if the damages exceed that limit, excess liability insurance can cover the additional costs, up to the limit of the umbrella policy.

Excess liability insurance can provide coverage for a wide range of liabilities, including bodily injury, property damage, and personal injury. It can also provide coverage for legal fees and other expenses associated with a liability claim.

It’s important to note that excess liability insurance does not provide coverage for every type of liability. It typically only covers liabilities that are covered by the primary policy. Additionally, it is usually only available to individuals or businesses that have a certain level of underlying liability coverage. The cost of excess liability insurance can vary depending on factors such as the amount of coverage needed and the level of risk associated with the policyholder.