Umbrella / Excess Liability

Livonia, Farmington Hills, Michigan

Owning a business is a difficult task. As a business owner, you worry for the future of your company in a time when many businesses are going under. In addition to making sure the company is growing, you must also plan for mistakes or accidents that could potentially devastate your business. The best way to protect against a potential lawsuit is through Umbrella Liability or Excess Liability insurance.

This form of liability insurance is called an “umbrella” because it provides an additional layer of insurance that spans above your firm’s General Liability, Auto Liability, and Employer Liability coverages.  It protects your business for catastrophic issues that threaten its security.

An Umbrella Liability policy offers 3 main benefits:

    1. Increased coverage limits that kick in when a claim is made against you that exceeds the amount of your primary liability coverage
    2. It fills in when General Liability aggregates are exhausted
    3. It can provide coverage for unusual claims that are not covered by underlying policies.

Excess Liability insurance is similar to an Umbrella Liability policy except that it is designed to follow the coverage terms in the underlying policies. In that respect, it only provides higher coverage limits that are excess of the primary underlying policies.

Be sure to ask us about other important parts of your insurance program, including: Commercial Auto; General Liability; Commercial Property; Workers Compensation; Umbrella Liability;  Bonds.