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Excess Liability Insurance

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Excess Liability Insurance Provided By Our Agency

Sometimes things go wrong – a car accident, a guest slips and falls on your property, or a lawsuit. An unfortunate situation can compromise your financial security if you don’t have the right coverage. Find out what Excess Liability (Umbrella) coverage is and why it’s important.

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Property Coverage
Auto Coverage
Directors & Officers Coverage
Disaster Coverage
Workers Compensation
Coverage

Property coverage

Risk Factors

If the losses to your house exceed the limits of your homeowner's policy, you need to pay the rest from your own pockets.

Solution

Excess Liability insurance will respond when the underlying liability limits of your homeowner's policy get exhausted.

Auto coverage

Risk Factors

Your pick-and-drop van might face an accident and get damaged. You become liable for the damages caused and also for the lawsuits, if any.

Solution

Suppose you use a car, truck, van, or combination of vehicles for your childcare business. In that case, you need commercial auto insurance to cover damages and lawsuits in case of an accident.

Directors & officers coverage

Risk Factors

You may get booked for failure to comply with workplace laws and get into lawsuits.

Solution

Excess liability insurance can pay for additional legal expenses if your primary policy fails to cover the entire expense.

Disaster Coverage

Risk Factors

Excess liability insurance can pay for additional legal expenses if your primary policy fails to cover the entire expense.

Solution

Excess Liability insurance will respond when the underlying liability limits of your policy gets exhausted.

Workers compensation coverage

Risk Factors

Your housekeeper/nanny slips on your premises while working and injures herself.

Solution

Excess liability insurance can pay for damages if your primary policy fails to cover the entire expense.

What is Excess Liability Insurance?

Excess Liability, sometimes known as an Umbrella policy, will respond when the underlying liability limits of your other policies, like homeowners or auto, have been exhausted. For example, if you were injured in a car accident and needed expensive surgery, you would be on the hook to pay for any costs beyond what the at-fault driver's Liability limits would cover. This is where Excess Liability coverage would kick in to help cover those unexpected costs.

What are the types of Excess Liability Insurance?

Ultimately, there are two types of excess liability insurance; an essential difference is between excess liability insurance and umbrella liability insurance.

Excess liability insurance pays for claims over existing policy limits based on the underlying scope of coverage only or what is often referred to as a follow-form basis. Separately, umbrella liability insurance serves three purposes:

  • It provides surplus limits when the payment depletes the limits of underlying liability policies of claims.
  • When the aggregate amount of the underlying policy is exhausted by claim payments, it falls and picks up where the underlying policy leaves off.
  • It covers some claims not covered by the underlying policies, subject to the named insured's assumption of a self-insured retention (SIR).

What makes Excess Liability Insurance important?

Excess Liability Insurance is essential because it can increase your coverage for

  • The lawsuit and legal fees associated with your company
  • Cases involving property damage and personal injuries, such as slips and falls
  • Extra coverage for your Commercial Auto insurance policy

And other excess liabilities on top of your primary policy.

 

Talk to us today to know more about Excess Liability insurance.

Already have Excess Liability Insurance? Switching is easy

It might be time to switch insurers whenever your existing insurer's service doesn't meet your needs. For example, it might be time to consider other options if you have poor claims experience or an unexplained rate increase.

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.
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The Insurance Doctor

The Insurance Doctor Provides Auto, Home, Life, Personal, & Business Insurance to All of New Hampshire, Including Manchester, Concord, Bedford, Goffstown, Nashua, Merrimack, Rochester, and Portsmouth.
453 Second Street 
Manchester, New Hampshire 03102
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(603) 647-5617
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