Workplace Injury Insurance
Excess Limits
PRODUCTS+SERVICES
Excess Limits Insurance provides additional coverage above and beyond the limits of your primary insurance policies, giving your business extra protection in the event of a large loss or claim. Whether you're in a high-risk industry or looking to ensure you're fully protected against significant liabilities, Excess Limits insurance offers a safety net to cover expenses that exceed the limits of your standard policy.
As the cost of claims and lawsuits continues to rise, having excess coverage is essential to protect your business from financial ruin in case of catastrophic events. This type of coverage is especially important for businesses with substantial assets, large operations, or those in industries where high-value claims are more likely.
Alternative Risk Programs
Auto Liability
Cargo Coverage
Claims Services
Excess Policies
General Liability
Owner-Operators
Physical Damage
Safety + Risk Control
Specialty Coverages
Workers Compensation
How Excess Limits Insurance Works
Excess Limits insurance works by providing an additional layer of coverage once the limits of your underlying primary policies (such as general liability, auto liability, or commercial property insurance) have been exhausted.
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Excess Liability Coverage: This provides added coverage for your general liability or auto liability policies, offering a higher payout limit for catastrophic claims. It's designed to protect your business from the potentially devastating costs of large claims that exceed your standard policy limits.
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Excess Property Coverage: If your property insurance limits are exceeded due to damage or destruction, excess property insurance will cover the additional costs.
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Umbrella Coverage: A common form of excess insurance is umbrella coverage, which provides broader coverage than excess liability policies. Umbrella policies can cover a variety of incidents, including those that fall outside the scope of your primary insurance policies, offering a high level of protection.
Why Excess Limits Insurance is Important
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Protection Against Large Losses: In the event of a major accident, lawsuit, or property damage, Excess Limits insurance helps protect your business from the financial fallout of claims that exceed your primary policy's limits. Without excess coverage, your business could be forced to pay out-of-pocket for costs above your standard policy’s limits.
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Safeguard Business Assets: Businesses with significant assets, such as commercial property, vehicles, or high-value inventory, are particularly vulnerable to large claims. Excess insurance ensures that your valuable assets are protected, even if damages go beyond the coverage provided by your primary policy.
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Peace of Mind: Knowing that you have extra coverage to fall back on in case of a large claim offers peace of mind, allowing you to focus on running your business without constantly worrying about catastrophic risks.
Who Needs Excess Limits Insurance?
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Excess Limits Insurance is beneficial for businesses of all sizes, especially those that:
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Operate in high-risk industries: Industries like trucking, construction, and manufacturing are more likely to experience accidents, property damage, or legal issues that could exceed the limits of standard insurance policies.
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Have substantial assets: If your business owns significant assets such as commercial buildings, vehicles, or equipment, excess coverage can help protect those assets in the event of a large claim.
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Engage in contracts that require higher limits: Clients or partners may require businesses to have higher liability coverage, particularly in industries like construction, logistics, and healthcare.
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Want to protect against large claims: Businesses that want to safeguard themselves from the financial impact of lawsuits, accidents, or catastrophic events that could exceed standard coverage limits.
