Excess liability coverage is an insurance policy that works in conjunction with a primary policy to provide additional protection for businesses. It can be used to extend certain protections that are not included within the initial agreement, or it can be applied as a standalone policy for businesses whose needs cannot be met by their existing coverage.

Why Excess Liability Coverage Is Needed

The most common use for excess liability policies is when companies believe they need more financial protection than what is available from their standard insurance policies. This can be anything from covering lawsuits that exceed the limits of their primary corporate liability policy, to providing protection against losses caused by specific types of damage.

The extra protection provided by an excess liability policy may not apply to every industry, but it can be invaluable when dealing with high-risk situations such as those found in the cannabis industry. Millers Insurance Group can help you protect your business with an excess liability policy.