Excess Liability

You don’t have to be a millionaire to be sued like one.

The fact is, a single lawsuit – even if you win – can end up costing hundreds of thousands of dollars. And the greater your assets, the more you potentially have at risk.

Excess Liability Coverage can help protect you against personal liabilities that could attack a substantial portion of your assets (even with the liability coverage provided by your auto and homeowners policy). For example:

  • As you turn a corner in your car, you accidentally injure a successful entrepreneur in the crosswalk. Medical costs, lost earnings and damages amount to millions….and you are responsible.
  • You’re having furniture delivered to your home and one of deliverymen slips and falls on your icy steps and breaks his leg.
  • You volunteer on the board of directors of your condominium association. The board installs a playground with a faulty swing and a fellow association member’s child is injured. You are sued as a board member.

Do you employ a residential staff, such as gardeners, housekeepers or nannies? If so, you should consider additional insurance coverage for private employment practices liability.

How much do you have at risk?