Get an extra layer of protection against significant losses with an umbrella insurance policy.
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Excess liability insurance, also called umbrella coverage, protects your business beyond the limits of your primary insurance policy. If a claim exceeds the limits of your primary insurance, your excess liability policy kicks in to cover any remaining costs up to the limit of the umbrella policy.
As the name suggests, an umbrella policy covers your company for a variety of risks. Many construction companies contact Buildsure for a risk assessment to see if an excess liability policy is right for them. Our experienced brokers will audit your current policies, provide recommendations, and advise if an umbrella policy should be purchased.
Considering the potential financial risks and consequences of a large liability claim, having an umbrella policy that covers beyond your primary policy is often worth having. Once you reach the limits of your primary policy, you're responsible for any additional costs.
Excess liability insurance is relatively inexpensive compared to the amount of coverage it provides. It's a valuable addition to any construction company's insurance portfolio to protect against significant financial losses from a liability claim or lawsuit.
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Simply, anyone who wants to protect their assets from the financial devastation of a large liability claim or lawsuit would be well-served by purchasing excess liability insurance. Business owners, especially those who could face high bodily injury or property damage, should consider an umbrella policy for additional coverage.
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