Understanding Excess Liability Coverage 

Understanding liability exposure is crucial for business owners and individuals managing personal assets in Arizona. Below is an overview of excess liability coverage, including what it includes, how it functions and why it may be a worthwhile addition to your insurance portfolio.

What Is Excess Liability Coverage?

Excess liability coverage may provide additional financial protection once the limits of existing liability policies are reached. It can provide additional coverage after primary policies, such as general liability, auto liability or homeowners liability insurance, have paid their maximum limits.

Who May Find Excess Liability Coverage Helpful?

This type of coverage can be beneficial for many people in Arizona, including:

• Business owners seeking additional coverage for major lawsuits or significant claims
• Individuals with substantial assets looking to reduce exposure to large liability losses
• Anyone concerned about the financial impact of severe injury claims or major property damage

Why Is Excess Liability Coverage Important in Arizona?

Arizona’s legal climate allows for liability claims that may lead to large settlements or court awards. Once the limits of a primary policy have been reached, remaining costs typically become your responsibility. Excess liability coverage can help address these potential gaps and unexpected financial demands.

Speak to a Licensed Agent Near You

Driven Insurance Services helps Arizona clients review liability exposure and determine an appropriate amount of excess liability coverage. Our team can review your existing policies, highlight potential shortfalls and arrange options suited to your business needs or personal situations. Contact us today to explore available options and get personalized assistance.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.