What is Umbrella & Excess Liability Insurance?
With the number of multi-million dollar lawsuits and settlements increasing, an umbrella liability insurance policy provides protection against catastrophic losses when your existing liability insurance policy limits are inadequate or cannot cover all the expenses. Essentially, it picks up where your general liability, business automobile liability or other liability coverage stops, providing extra protection against suits from third parties for bodily injury and/or property damage.
Benefits of additional umbrella & excess liability insurance
When your standard policy limits have been depleted due to claims, umbrella & excess liability insurance expands the limit of general liability and provides additional coverage that sits on top of your primary commercial general liability and automobile policy.
Our experts at Reliance Insurance can assist in determining how an Umbrella Liability policy can best protect you and your assets.
Cover all your bases
Umbrella policies can provide additional limits of insurance, and offer additional coverages that your primary liability policy may not. For example, umbrella & excess liability policies usually provide worldwide coverage where a general liability policy may be limited to Canada or Canada and the US.
You should consider an umbrella policy if you:
- Own multiple properties and companies
- Own businesses that transact in the United States
- Travel the world on business
- Purchase minimum limits of automobile liability
Reliance can review your gaps to see if an Umbrella Liability policy is the right move for your organization.
You may need:
Business Interruption Insurance
Prevent loss of income if your premises are damaged.
Liability insurance can protect you, your staff, your customers and even your suppliers.
Protect against liability for bodily injury or property damage claims arising out of your products.
Get the right fleet insurance coverage for your business at a competitive premium.
Axewood is a business that requires a hands-on approach from our insurance team almost daily. The Reliance Insurance team has exceeded expectations, significantly. Their clarity, availability, and true attention to detail have empowered us with the knowledge to approach our clients with confidence and express our unique business. We wouldn't have been able to progress our business to where it is today without this team. Period.
— Founder | Axewood Axe Throwing Crew
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