Excess liability coverage is a type of policy that provides limits that exceed the underlying (or primary) liability policy.
This coverage serves as the insurance of your insurance. This coverage may be required by certain brokers you work for or just desired to help ensure you are fully covered for a loss that may occur.
Excess coverage goes above and beyond your main insurance policy. If you or an employee of yours has an accident that exhausts your policy’s liability limits, to ensure the claimant does not go after your personal assets, it is a great business move to have an excess policy in place.
If your underlying policy limits are exhausted, then you have the backup “excess” coverage to cover any overage you are liable to pay.
If you are interested in getting more information, or a quote on excess coverage, please reach out to us here at TIS; we are ready to help!