As a business owner you probably have heard of the term excess liability insurance and if you have not, it might be a good idea to keep reading. Every business insurance policy can be designed using different layers and levels of coverage. The amount of coverage a business needs depends greatly upon the type and size of the business. Excess liability insurance adds extra layers of protection for businesses of all sizes.
In some cases, depending upon the incident, the final judgment may exceed the liability limits of a traditional business insurance policy. When your current business owners insurance policy does not cover everything or give enough benefits for the needs of the business, an excess liability insurance policy will pick up the rest.
Excess liability insurance provides the following additional coverage:
- Protection from claims
- Personal liability coverage for incidents at your business
- Additional layer of coverage for all work vehicles
- Protection against non-business related liabilities, such as slander, libel and wrongful conviction
- Legal defense costs
Take some time to speak with an insurance agent to determine the amount of excess liability your business needs. For more information about your business insurance needs contact Weeks & Associates Insurance Services. We have offices in California and Idaho.