Excess Liability Insurance

Excess insurance is a type of insurance policy that provides additional coverage on top of a business's existing insurance policies.

Similar to umbrella policies, excess coverage is designed to provide protection against catastrophic events or lawsuits that exceed the limits of a business's primary insurance coverage. In other words, excess insurance serves as a safety net that kicks in when primary insurance coverage is exhausted.

Excess insurance is particularly important for businesses that face high-risk activities or have significant assets to protect. Without excess insurance, business owners may be personally responsible for any damages or legal costs that exceed their primary insurance coverage, which could result in significant financial losses. Moreover, excess insurance can provide peace of mind to businesses, knowing that they are protected against potentially devastating events.

Excess insurance policies typically have higher limits of coverage than primary policies, which can be customized to suit the business's specific needs. They can also cover a range of risks, from liability to property damage, giving businesses greater flexibility in how they choose to protect themselves and their assets.

Overall, excess insurance is an important tool for businesses who want to ensure they have adequate insurance coverage and protection against potential financial losses.