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What is Umbrella Liability / Excess Liability Insurance?
Umbrella Liability (also known as Excess Liability) Insurance from Quote Liability gives your business additional coverage when a claim exceeds an underlying policy’s insurance limits. For example, if your companies’ General Liability Insurance policy provides $1 million in coverage, but a claim settles for $1.5 million, your Umbrella Liability Insurance policy would cover the difference.
At Quote Liability for a single premium, you can add an Umbrella Liability policy to your General Liability, Hired and Non-Owned Auto Liability, and Employer’s Liability coverage. However, umbrella coverage cannot be used to supplement a Professional Liability policy.
Your Business Can Depend On Quote Liability!
Umbrella Liability Insurance protection from Quote Liability adds additional amounts of liability insurance, in increments of $1,000,000, that is in excess of your company’s basic General Liability, Automobile Liability, or Employer’s Liability coverage (the company liability part of a workers’ compensation policy).
Among the potential critical areas of Business Insurance is additional coverage for auto accidents that could occur while an employee is driving on company business. The possible long or short-term results of car/truck accidents of either yourself or employees while on company business underscore the need for businesses to carry high limits of Liability Insurance.
Often, computer and IT services firms do not anticipate that their company runs a risk of potential claims of bodily injury and/or property damage. The higher limits provided by an Umbrella Liability (Excess Liability) Insurance policy are recommended however, as they do face claims arising from the use of automobiles and workplace accidents covered by Workers Compensation Insurance that the policy may not completely cover.