Umbrella liability insurance and excess liability insurance are the two primary varieties of excess liability insurance.

Excess Liability Insurance
This type pays for claims that exceed the limits of your existing policies, based strictly on the underlying scope of coverage, often referred to as a follow-form basis.

Umbrella Liability Insurance 
This serves three primary purposes:

1. Provides additional limits when the payment exceeds the limits of your underlying liability policies.
2. Picks up where the underlying policy leaves off when the aggregate amount of the underlying policy is exhausted by claim payments.

3. Covers certain claims not covered by the underlying policies, subject to the named insured's assumption of a self-insured retention (SIR).

Excess Liability Insurance is crucial because it can increase your coverage for:

• Lawsuits and legal fees associated with your business
• Property damage and personal injury cases, such as slips and falls
• Additional coverage for your Commercial Auto insurance policy
• Other excess liabilities beyond your primary policy limits

Contact Hecht-Stout Insurance Agency at 1715 Woodside Drive Dunlap, IL 61525, to learn more about how Excess Liability Insurance can offer you the extra protection you need.

For more information on Excess Liability insurance and to discuss your coverage options, reach out to us today. Protect your financial future with the right insurance solutions from Hecht-Stout Insurance Agency in Dunlap, Illinois.