27 Monmouth St Red Bank, NJ 07701 (732) 649-1600 Service@BLInsuranceAdvisors.com

Excess Liability Insurance

Excess Liability Insurance with Blue Lion Insurance Advisors, LLC located in Red Bank NJ

What is Excess Liability (Umbrella) Insurance?

Excess liability insurance (ELI), more commonly known as umbrella insurance, is one of the most important types of insurance your company can buy.

It protects your business from holes or limits in existing policy coverage (commercial general liability, business auto, employer liability, workers’ compensation and professional liability.) as well as from financially draining lawsuits.

Umbrella Basics

For the most part, it is used to cover exceptionally large events or losses with low probabilities of occurrence. Without ELI, these events – as few and far between as they may be – would be financially devastating to many companies.

Who Should Consider Excess Liability Insurance?

All types of companies would benefit largely from Excess Liability (Umbrella) Insurance. Because it extends coverage so dramatically at a relatively small additional cost, many choose to pay the extra price. The amount of coverage needed will always depend on the total value of your assets.

Other Benefits of ELI Coverage

Ultimately, ELI acts as a sort of dual policy, providing coverage in two ways:

  • Paying liabilities in excess of existing policy limits
  • Providing coverage in areas not included with existing policies

ELI is also beneficial because an effective policy can save your business money and cover more assets by using fewer individual policies. However, depending on your policy, some coverage may be excluded under Excess Liability Insurance.

Common exclusions include employment practices liability, professional liability and product recall coverage.

The umbrella market is often erratic. We can find you competitive quotes addressing your specific risk categories. To learn more about including excess liability/umbrella insurance to protect your company, call Blue Lion Insurance Advisors, LLC today.

The next step is easy!

Call us today at (732) 649-1600 to learn how our advisors could get you the right coverage, at the right price, and superior service. You can also Request A FREE Insurance Quote on our site or Contact an advisor for more information.