Excess / Umbrella Liability

Umbrella or Excess Liability Insurance for Business

Umbrella liability insurance is a business insurance policy that can be added by business owners who already have the protection of one or more primary insurance policies.  This type of insurance is also referred to as “excess liability insurance,” or “commercial umbrella insurance.”  Umbrella liability insurance provides additional coverage, extending the policy’s benefit, in certain cases where a claim has exceeded the primary policy’s limit.

For a single premium, an umbrella policy adds another layer of protection to a number of policies that am employer may already hold.  These include insurance policies for general liability, employer liability, and auto.  It makes sense to have excess liability insurance, since it is the most affordable way to attain higher policy limits on several other policies all at once. 

Before selecting primary insurance coverage, a business owner should consider what coverage is needed.  It may not be wise to have more than one insurer, for although an umbrella policy may cover more than one, sometimes coverage disputes may occur between the insurers.  An umbrella policy must be written carefully in order to navigate these potential issues.

For business purposes umbrella or excess liability insurance may be a great option for protecting assets.  It can be a complicated issue when determining liability amounts and the best benefits and providers.  SoCal Platinum Insurance is a brokerage, and with the leverage that accompanies working with such a wide range of providers, Chad Olsen is perfectly positioned and perfectly experienced to find you the best umbrella liability coverage to suit your business needs.