Excess Liability Insurance
Excess liability insurance protects you from what could be devastating financial loss if someone is injured in your home or automobile and wins a legal judgement against you. While you may already have liability coverage under your auto and/or homeowner’s policy, excess liability insurance increases that protection substantially. In order to purchase an excess liability policy, you must first have basic personal liability coverage under a homeowner’s and automobile policy.
Benefits of Excess Liability Insurance
- Coverage against injury or property damage caused by you, your family, or a named insured.
- Funds to assist with legal defense costs.
- Protection against claims arising from slander, wrongful eviction, false arrest, and libel.
- Additional protection for liability not covered by your base policy.
Features of an Excess Liability Insurance Policy
- Premium discounts for owning multiple policies with the same insurer.
- Option to reduce your out-of-pocket premium by increasing your deductible.
- Twelve-month policy renewal periods.
Element to Consider
- Your premium may increase or your eligibility for policy renewal could be jeopardized based on claim experience.