Group Personal Excess Liability Coverage: Protect Your People, Protect Your Business

Posted in: Personal Insurance

In our lawsuit-prone world, you, as an executive, business owner, lawyer, or physician, likely know the value of commercial property and casualty insurance. But did you know that your company’s assets could be at risk if you or one of your employees has an accident in a non-company vehicle?

Protecting Your Company

Group Personal Excess Liability Coverage isn’t just a benefit for key employees; it’s also a shield for your company. If an employee, while on business duty, causes an accident that leads to a lawsuit, your company could be targeted. Offering this coverage brings peace of mind, ensuring your employees and organization are safeguarded from legal troubles.

Understanding Personal Excess Liability Insurance

First, let’s grasp what Personal Excess Liability Insurance Coverage is. It’s your legal protection if you’re sued for something that resulted in property damage or injury. This coverage increases your liability protection for:

  • Homes (primary, vacation, rental)
  • Cars, motorcycles
  • Recreational vehicles (ATVs, golf carts, jet skis, snowmobiles)
  • Watercraft (up to 99 feet)

Exploring Group Personal Excess Liability Coverage

Group Personal Excess Liability Coverage provides personal liability protection for each employee in a defined group. Why is it a smart choice?

  • Simplified underwriting when offered by a company.
  • Potential cost savings for group pricing.
  • Easy additions over time with no extra premium.
  • Covers spouses, children, dependents, and authorized users.
  • No underwriting hassles.
  • Fewer coverage gaps.

Added Benefits

Beyond these advantages, Group Personal Excess Liability Insurance offers more:

  • High coverage limits, up to $100 million.
  • Uninsured motorist excess coverage.
  • Cost-effective add-on products like Employment Practices Liability Insurance (EPLI) and Not-for-Profit Board Liability coverage.

Your Business’s Shield

By offering Group Personal Excess Liability Coverage, you safeguard your business and team from personal risks. It’s tailored for executives and companies seeking enhanced protection. Even if it’s not a fit for everyone, it’s wise to check your personal insurance for excess coverage or umbrella protection.

For questions about offering this coverage to your employees, contact me at Protect your company and team with Group Personal Excess Liability Coverage.