Novita Insurance Solutions now offers Excess Following Form Liability coverage from $1M up to $5M, with access to even higher limits.
Following Form Excess does just what it says. It follows an underlying policy and provides for additional limit. All the same coverages and exclusions on the underlying policy are applicable to the Following Form Excess policy. The quote can be per location or per account to blanket several locations together, providing greater flexibility for your clients.
Excess Liability insurance serves as the “insurance” of their insurance. It makes sure everything is covered, even if primary coverage has reached its declared limits.
To better understand how Excess Liability works, here’s an example scenario:
A customer accidentally slips on the floor while visiting your client’s small business, resulting in serious injury. He files a claim against your client, and the court decides the client is responsible for the incident. The injured customer wants a $1,500,000 settlement, but your client’s General Liability insurance has policy limits of up to $1,000,000 per occurrence. If they have Excess Liability insurance from $1,000,000 – $5,000,000 they don’t have to worry about the remaining $500,000. Without it, they would have to pay the difference out of pocket.
By allowing your client to access more coverage when their liability policies are maxed, Novita’s Excess Liability brings valuable peace of mind for relatively minor expense. Contact us and we’ll work with you to put your client’s mind at ease.