Personal Excess Liability Insurance

Published: | Updated: December 20, 2017

Definition - What does Personal Excess Liability Insurance mean?

Personal excess liability insurance provides extra coverage for another liability insurance policy that a policyholder already owns. It pays for amounts that surpass the limit of the first liability policy.

Insuranceopedia explains Personal Excess Liability Insurance

Personal excess liability insurance is often equated with umbrella insurance. While both provide coverage beyond the liability policy's limit, personal excess liability insurance does not provide the broader protection that umbrella insurance affords.

To illustrate, suppose that you injure another party in a vehicular accident and the total amount of damage is $12,000. If your liability coverage has a limit of $10,000, your excess liability insurance will pay the additional $2,000.

How Well Do You Know Your Life Insurance?

The more you know about life insurance, the better prepared you are to find the best coverage for you.

Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.

Share this:

Connect with us

Email Newsletter

Join thousands receiving the latest content and insights on the insurance industry.