By Diana T. Torres

One of the most important property and casualty insurances available today is Excess Liability, also known as an Umbrella Policy. The term “umbrella” fits the function of this type of coverage, because it acts as a shield. Excess liability provides additional coverage over primary property and casualty policies, such as homeowner and automobile policies.

An Excess (Umbrella) policy is additional liability insurance that protects an insured’s assets, including future income, above the standard limits of their primary insurance coverage. But excess coverage does not kick-in until the liability under the primary policies has been exhausted.

Umbrella policies consist primarily of liability that is sold in increments of a million. For example, if an insured has a homeowner’s policy with a liability limit of $300,000, with umbrella coverage it increases to $1,300,000.

The amount of umbrella coverage purchased will provide additional liability above the standard limits for homeowner’s, automobile, motorcycle and boat insurance.

To find out whether you qualify for an excess liability policy or if you have concerns about your liability coverage, contact our office and one of our representatives will be happy to help you.