There are two primary types of excess liability insurance, and it is important to distinguish between excess liability insurance and umbrella liability insurance.

Excess Liability Insurance – Provides coverage beyond your primary policy limits but only for claims covered by the underlying policy (also known as a follow-form policy).

Umbrella Liability Insurance – Offers broader coverage and serves three key purposes:

* Extends limits when the underlying liability policy limits are exhausted.
* Drops down to cover gaps if the aggregate limit of the underlying policy is used up.
* Provides coverage for certain claims not covered by primary policies, subject to a self-insured retention (SIR) by the insured.

Excess liability insurance is essential for enhancing your financial protection by increasing coverage for:

* Lawsuits and legal expenses related to your business or personal liability.
* Property damage and bodily injury claims, such as slips and falls.
* Additional protection for your commercial auto insurance policy.

Other liabilities exceeding the limits of your primary policies.

Unforeseen accidents and legal claims can lead to significant financial losses. Talk to us today to learn more about excess liability insurance and how it can provide an extra layer of financial security for your assets!