Insurance is all about peace of mind, and excess liability insurance takes it to the next level.
Excess liability coverage or umbrella insurance will protect you over and above your standard policy liability limits. This type of policy will come in to play only after your underlying policy limits are exhausted, when a claim is presented against you for liability. This policy can protect you, your home, your assets, 401’s against financial ruin.
The term “excess liability insurance” is often interchanged with “umbrella insurance” and the distinction between the two can blur. Some insurers use the distinction that umbrella insurance can cover some risks and situations not covered by the standard policy, while excess liability insurance simply adds on a higher payout limit. Because such distinctions in terminology aren’t always used consistently, you’ll need to check exactly what your policies offer.
To find out more about how excess liability insurance can provide you with extra reassurance, contact us today.