Excess liability

Excess Liability Insurance

Excess liability insurance provides you with extra protection coverage in the event of being sued by a person injured allegedly due to your negligence. The insurance coverage comes in handy if the judgement against you exceeds the value of your total family assets, thus threatening to cripple your future income and even savings. This may include medical expenses and other claim payments exceeding insurance limits on an underlying policy, such as homeowner’s policy. This type of insurance coverage is also known as umbrella liability insurance or commercial umbrella insurance.

Financial Protection

Excess liability insurance adds another layer of protection to your basic personal liability coverage, which means it is necessary that you have the basic insurance coverage to procure excess liability coverage. Excess liability insurance coverage includes libel, slander, false eviction, character defamation, and false arrest.  In some cases, the policy also offers coverage for court fees and legal defense costs that are not covered by an underlying policy. A policy holder might also avail the benefit when the lawsuit is not covered by their underlying policy.

The excess liability insurance sum may range from $1 to $50 million. Excess liability insurance policies must be renewed every year. While some insurance providers focus on home insurance solutions for excess liability, some others provide only coverage for business entities. Having additional layers over your auto insurance coverage is critical as well. More fortunes are lost as a result of not having enough coverage in this area.

If you have excess liability insurance coverage, you will get interesting benefits and save some money by reducing the costs you would be liable to pay if you experience unpleasant events, including, traffic accidents or any casualty. We have current clients who have saved all their assets by having this simple policy. Call us for details and a quote!

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Aaron J. Farmer Insurance Agency, Inc.
7960 Silverton Ave. Ste. 202 San Diego, CA 92126
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