Excess Umbrella


What Is Umbrella or Excess Liability Insurance?

An important insurance product to consider for public transportation companies.

Umbrella liability insurance for transportation companies, also known as excess liability insurance or commercial umbrella insurance, provides additional protection when your business insurance needs’ exceed insurance limits on an underlying policy. For example, if your current auto policy carries an underlying limit of liability of $1,500,000 combined single limit, an excess, or umbrella policy would provide coverage in the event that you had a claim in excess of this limit.

How does umbrella liability insurance protect your business?

Under a separate policy, umbrella liability or excess liability policies add another layer of protection to any other policies that you might have to protect your business; including Auto, General Liability, and Employer’s Liability.

For example, if you have $1.5 million Combined Single Limit (CSL) liability limit on your auto policy, and a covered claim is settled for $3.5 million, an umbrella liability insurance policy would pick up the additional amount of the settlement over the $1.5M paid by the underlying auto policy carrier. Without this “excess” coverage, your business would be responsible to pay for the $2M judgment or settlement out of your company assets. Obviously this scenario could easily bankrupt many transportation companies.

Most of our transportation clients consider purchasing an excess policy for protection of their businesses.

If your fleet includes any vehicles with seating capacity in excess of 15 passengers, or is in excess of 10,000 Gross Vehicle Weight, your company is required by law to carry $5M of Auto Liability. We can provide an excess policy for $3.5M to meet DOT guidelines, and add this important layer of protection for your company.

An umbrella/excess insurance policy can provide you with the peace of mind in knowing that you have sufficient liability limits to protect your company in the event of a catastrophic liability claim.

For a no obligation quote on an excess liability policy, call Mike Marroccoli at 800-222-2425 X458.

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