Excess Liability Insurance

Excess Liability (EL) and Umbrella Insurance for Truckers: Why Elite Insurance and Beyond is the Provider You Need

As a trucker or a trucking fleet owner, you know that accidents can happen at any time, no matter how careful you are. Unfortunately, accidents can result in massive losses that can quickly exceed the limits of your primary coverage. This is where excess liability and umbrella insurance comes in.

EL and umbrella insurance provide an additional layer of protection that covers catastrophic losses beyond the limits of your primary coverage. For example, imagine your truck rolls over in downtown Denver and takes out a multi-million dollar building. Your primary liability coverage may not be enough to cover the damages, leaving you responsible for the remaining costs. Excess liability and umbrella insurance protect you from this scenario and provide the necessary coverage to avoid financial ruin.

Who Needs EL or Umbrella Insurance?

Fleet operations, owner-operators with significant assets to protect, and those who want peace of mind should consider excess liability or umbrella insurance. Additionally, some customers may require this type of coverage as a condition of their contracts.

How Much Does EL or Umbrella Insurance Cost?

EL and umbrella insurance can be prohibitively expensive, and the market can fluctuate wildly. However, Elite Insurance and Beyond can help you determine if this type of coverage is necessary for you and your business. With three decades worth of contacts in the insurance industry, Elite Insurance and Beyond can find you premiums that work for your situation.

Trucking Umbrella or Excess Liability Insurance

Trucking umbrella or excess liability insurance is an essential coverage option for truckers and trucking fleets. If you cause an accident, your primary liability limits can be easily exhausted if you are slapped with a lawsuit. Your umbrella policy will kick in when your other resources have been depleted and are not able to completely cover the costs.

How Does Trucking Umbrella or Excess Liability Insurance Protect Your Trucking Business?

Umbrella liability or excess liability policies add another layer of protection to any of several other policies that you might hold, including general liability, employer’s liability, and commercial auto liability policies. For instance, if you have $1 million in commercial auto liability coverage and a covered claim is settled for $1.5 million, your company’s umbrella liability insurance policy would pick up the additional amount.

Why Choose Elite Insurance and Beyond as Your Excess Liability and Umbrella Insurance Provider?

Elite Insurance and Beyond is the provider you need for your EL and umbrella insurance needs. With a focus on providing exceptional customer service and a commitment to finding the right coverage at the right price, Elite Insurance and Beyond is dedicated to protecting your business.

Elite Insurance and Beyond Offers:

  • A/B umbrella form coverage with $25 million in capacity
  • Coverage that includes crisis management services expenses automatically at no additional cost
  • Ability to provide coverage on a worldwide basis
  • Ability to provide umbrella/excess coverage of aircraft, foreign, personal umbrella liability, miscellaneous professional liability, and media liability for printers, publishers, broadcasters
  • Most-favored jurisdiction endorsement – provides admitted coverage for punitive damages
  • Ability to write admitted and non-admitted policies*

Excess Liability Insurance vs. Commercial Umbrella Insurance

While the terms are often used interchangeably, excess liability insurance and commercial umbrella insurance are different types of coverage. Excess liability insurance serves as an extra layer of protection for losses in excess of your primary and umbrella policy limits but does not provide broader coverage beyond those underlying policies. In contrast, commercial umbrella insurance provides higher coverage limits for your primary policies in addition to covering exposure gaps in those policies.