Extra Protection When You Need It Most
Umbrella Insurance and Excess Insurance are both types of liability coverage that provide additional protection above and beyond the limits of your primary insurance policies.
Umbrella insurance is a type of liability insurance that provides extra coverage above and beyond the limits of your existing insurance policies. It’s designed to protect you from major claims and lawsuits, offering more financial security if you're ever held responsible for an accident or damage.
Excess insurance is also an additional layer of coverage, but it’s more focused on extending the limits of your primary insurance without adding much extra coverage for other types of risks.
Key Differences Between Umbrella and Excess Insurance:
- Coverage Scope: Umbrella insurance provides a broader range of coverage (including things like slander or personal liability that your primary insurance may not cover), while excess insurance is more narrow and only extends the coverage of your existing policies.
- Flexibility: Umbrella insurance is typically more flexible because it’s not tied to a single policy—it can cover gaps across multiple areas of liability.
- Price: Umbrella insurance might cost a little more due to its wider coverage, while excess insurance is usually cheaper