Excess Liability Insurance

Protect your reputation, lifestyle, and wealth with excess liability insurance.

An excess liability insurance policy protects you when your other liability coverage is exhausted. Essentially, it extends your policy limits (that’s the maximum amount that will be paid out in the event of a covered claim). An excess liability insurance policy can be purchased by a business or an individual.

Have questions? Talk to one of our experienced excess liability insurance brokers here at Rogers Insurance. They can help you determine your insurance needs and find you the right policy. As an independent, employee-owned insurance brokerage, we work for you – not an insurance company. We can deliver competitive excess liability insurance quotes and offer a choice of coverage.

Get a free excess liability insurance quote online, by phone, or in-person – or read on to learn more about this important protection.

Excess Liability Insurance Coverage

Excess liability insurance extends your policy limits of existing liability insurance policies. It takes over when your other liability insurance policies are exhausted – their policy limits or maximum payout amount is reached. Your excess liability insurance will pick up the remaining costs from what your other policies would cover, but can’t, as their limit was reached.

This generally includes legal expenses, including defense costs, settlements and judgement awards. However, your exact coverage will depend on the excess liability insurance policy and the liability coverage it is extending.

Here’s a list of common excess liability insurance policies:

• Excess General Liability
• Excess Commercial Auto Liability
• Excess Employers’ Liability
• Excess Product Liability
• Excess Professional Liability
• Excess Marine Liability
• Excess Contractors Liability
• Excess Personal Liability

Keep in mind that excess liability insurance doesn’t provide standalone liability coverage nor does it offer protection from additional perils.

How Excess Liability Insurance Works

An example is best used to illustrate how excess liability insurance works. Let’s use a personal excess liability insurance claim first: a guest in your home slips and falls on your pool deck, injuring themselves quite badly. They’re unable to work and sue you for damages. Your home insurance policy will include liability coverage for this type of incident, but in this case, the resulting legal battle and settlement means you quickly hit the limit of that coverage. Your personal excess liability insurance would take over once your home insurance liability was exhausted, providing additional coverage.

Let’s do a commercial example: say you manufacture a product that has an unexpected defect that has started a few fires. You’re sued for damages. Luckily, you have product liability insurance – but the lawsuit settlement exceeds the policy limit. Your excess liability insurance would be able to help cover the rest of the settlement costs.

If you did not have excess liability insurance for yourself or your business in the above two scenarios, you or your business would need to pay the difference out of pocket.

As you can see, your excess liability coverage is insurance for your insurance – it takes over when your existing liability policies are “maxed out.”

Commercial Excess Liability Insurance

This coverage is an excellent idea for any business, particularly if the company’s revenue or assets exceed their liability coverage limits. Commercial excess liability insurance is also important in the event of catastrophic losses and lawsuits that follow – such as the ones filed a utility company after a deadly and destructive fire.  If you operate in a higher risk industry or one that experiences higher rates of litigation, this coverage is also a good idea. Another reason to purchase commercial excess liability insurance is if you’re unable to get a higher policy limit with your current liability policy.

Personal Excess Liability Insurance

There are several reasons to get personal excess liability insurance:

• If you possess high-value assets
• If you have many assets
• If you work in a profession with high rates of litigation
• If you regularly entertain guests at home, especially if you serve alcohol
• If you or your family travels regularly either for business or pleasure
• If you have a swimming pool or hot tub on your property
• If you have a trampoline on your property
• If you own ATVs, boats, and other recreational vehicles, especially if you allow guests to use them
• If you own property held in a trust or limited liability corporation
• If you or a family member serve on a board for a non-profit or charity
• If you employ household staff

Personal excess liability insurance can help cover the costs of lawsuits should they escalate beyond the limits of your home, auto, RV, or umbrella insurance policies. It protects your family’s financial security and lifestyle.

Excess Liability Insurance vs. Umbrella Liability Insurance

The biggest difference between the two is that excess liability insurance extends the policy limits of your existing liability policies, tends to offer very high maximums of its own, and can be commercial or personal. Umbrella insurance is generally personal, provides additional liability coverage, but may have lower overall limits. An excess liability insurance policy can extend your umbrella policy limits, too.

Getting an Excess Liability Insurance Quote

It’s important to get a few excess liability insurance quotes to ensure you’re getting the best value for your money. Not interested in research or price shopping? Our excess liability insurance brokers are happy to take care of it for you. They’ll also be able to answer all of your questions and help you determine your insurance needs. At Rogers Insurance, our brokers are experienced and knowledgeable. As an Alberta Top Employer, we emphasize continued professional development and great workplace culture, which translates into better service to you.

Here’s what our excess liability insurance brokers can do for you:

• Determine your insurance needs.
• Find competitive quotes.
• Advise and act as an insurance resource.
• Advocate on your behalf in the event of a claim.

As one of Canada’s largest independent brokerages, Rogers Insurance works with a large number of excess liability insurance companies. This allows us to offer you a choice in your coverage and competitive excess liability insurance quotes. Since we’re employee-owned, you can trust that we’re working for you.

Here are a few things to think about when looking to purchase excess liability insurance:

• What is covered by your current liability policies?
• What are your current liability insurance policy limits?
• What is the value of your assets?
• What’s your annual income (or revenue if you’re purchasing commercial excess liability insurance)?
• What’s your budget for premiums and a deductible?

To request an excess liability insurance quote, fill in our online form, give us a call, or stop by at one of our offices.

Reducing Your Liability Risks

There are many ways to reduce your liability risks at home and at your business. Here at Rogers, we also offer risk management services to help you better protect your financial security.

Here are a few ways to reduce your liability risks:

• Do a risk assessment of your business on a regular basis
• Develop strategies to eliminate or reduce risks
• Provide regular, thorough employee training about risks and processes to mitigate them
• Use a client intake form
• Practice good cybersecurity, including passwords, locking devices, installing anti-malware and firewall, et cetera
• If you work with contractors, get references
• Ensure your premises is equipped with all safety equipment such as railing, fire alarms, et cetera
• Keep walkways free from tripping hazards
• Use signage, alarms, and lights to warn of potential dangers
• Perform regular and seasonal maintenance on your premises
• Ensure there is adequate lighting
• Enclose your yard or pool with a fence (self-closing and locking gates are best)
• Never serve alcohol to minors
• Never allow someone to drink and drive
• Always supervise children, especially near risks such as pools and trampolines
• Review your insurance with a broker at least annually or if there are any major changes