Excess liability and umbrella insurance is a way of providing extra coverage for your business or for you personally. Excess liability is generally for businesses while umbrella is for both. The coverage is designed to protect you financially in the event of a catastrophe.

Your standard policies have a limit. This includes auto insurance, building insurance, and everything else that you have in place. Once the maximum has been reached, you would be expected to pay for everything else out of pocket. If there is a major incident, this could be the downfall to your business.

It’s good business practice to have excess liability and insurance because of the additional coverage that it provides. You may have umbrella insurance to extend to higher limits on your policies but even they have their limits. The excess liability insurance provides that extra protection in the event of an unexpected event.

The excess liability is great for many types of businesses, including construction, hospitality, manufacturing, printing, retail and more. An insurance agent can talk to you about the options that exist with excess liability as well as umbrella insurance to ensure you have the higher limits extended on your policies.

At L&L Insurance, we can help you determine how much you need for your business and help to find an affordable policy. This is one of the most important types of insurance to have because the policy limits on your other insurance may not be sufficient coverage in the event of a true catastrophe.  This kind of policy may be obtained quickly and with a relatively low premium.