Do I need an excess liability policy

Whether you need an excess liability policy, also known as an umbrella insurance policy, depends on your individual circumstances, assets, and risk tolerance.

In simple terms, excess liability insurance, often referred to as umbrella insurance, is an additional layer of protection that goes beyond the coverage limits provided by your primary insurance policies. These primary policies could include auto, homeowners, or business insurance.

Here’s how it works:

1. Coverage Beyond Limits: If you face a significant liability claim or lawsuit and the costs exceed the limits of your primary insurance policies, an excess liability policy kicks in to provide additional coverage.
2. Various Coverages: Excess liability insurance can cover various liability situations, such as bodily injury, property damage, or legal defense costs.
3. Asset Protection: It is particularly valuable for individuals with substantial assets. If a claim surpasses the limits of your primary insurance, the excess liability policy helps protect your assets from being used to cover the remaining costs.
4. Affordable Protection: Despite its extensive coverage, excess liability insurance is often relatively affordable compared to the level of protection it offer

Contact us today to see if excess liability insurance is a good option for you!