What is Excess Liability Insurance?
Excess liability insurance is a type of insurance coverage that provides additional protection beyond your existing liability insurance policies. It provides an extra layer of security for individuals and businesses, in the event of a catastrophic loss.
Why is Excess Liability Insurance Important?
In today’s litigious society, individuals and businesses face the risk of lawsuits and financial loss from a variety of sources, such as car accidents, property damage, and personal injury. The limits of your standard liability insurance policies may not be enough to cover the costs of a significant loss. Excess liability insurance can help fill the gap by providing coverage over and above the limits of your underlying liability policies.
Benefits of Excess Liability Insurance
1. Financial Protection:
Excess liability insurance provides financial protection against the costs of a lawsuit, including legal fees, judgments, and settlements. This protection can be especially important for businesses, which may face significant financial losses if a lawsuit results in a judgement against them.
2. Peace of Mind:
With excess liability insurance in place, you can have peace of mind knowing you have added protection. This can give you the confidence to focus on running your business or pursuing your personal interests, knowing that you have a safety net in place.
Compared to the cost of a major lawsuit, excess liability insurance is a cost-effective way to protect your assets. By purchasing an excess liability policy, you can obtain additional coverage for a relatively low cost.
Excess liability insurance is flexibile and can be tailored to meet your specific needs. You can choose the amount of coverage that you need and adjust your policy as your needs change over time.
Get Coverage Today!
The Satanoff Agency, located in Wayne, PA, is an independent insurance agency based in 41 states across the United States, working to supply our customers with quality assistance and insurance. Our independent agents offer their services to help you as the customer get the unique coverage you need.
To request information about excess liability insurance, click here and we will have one of our agents contact you.