Umbrella Liability (AKA Excess Liability) provides
additional coverage when the limits of insurance on an underlying
policy are exceeded. For
instance, if you have $1,000,000 coverage under General Liability and you
have a claim settlement for $1,500,000, the umbrella policy would pick
up the additional amount. Umbrella Liability policies add coverage
to General Liability, Hired and Non-owned Auto Liability, and Employer's
Liability for a single premium. It is important to note that Umbrella
coverage does not apply to the Professional Liability policy.
Umbrella liability coverage may be described in your contract in
this way: "Commercial Excess Liability
Insurance in the amount of $1,000,000."
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