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Excess Liability Insurance in Ontario

As one of Ontario’s most trusted commercial insurance brokerage firms, Contractors Insurance is dedicated to providing personalized insurance bundles for independent contractors and other professionals. One type we provide is excess liability insurance.

Excess liability insurance helps pay for damages or costs incurred under claims that aren’t covered by the primary insurance policy, giving you an additional layer of protection on top of your existing coverage.

With our proven track record of success with many satisfied business owners, you can be sure that you are in good hands at Contractors Insurance!

What Is Excess Liability Insurance?

Excess liability insurance serves as a safety net for businesses in case they get hit with lawsuits or claims that exceed the limits of their primary policies.

This type of policy comes with two kinds of limits: per occurrence and aggregate limits.

Per occurrence limit is the maximum amount your insurance provider could pay for a single cover loss. Meanwhile, an aggregate limit is the maximum amount that your policy could cover during one year. 

Although it differs per case, this policy could cover the following instances:

Third-Party Bodily Injury 

If your company frequently faces liabilities involving clients or your business regularly gets foot traffic—such as restaurants, stores, or construction sites—you pose a level of danger to others. Accidents can happen at work, and this could lead to the injury of an innocent passerby or a client visiting your property. 

These instances are usually covered under general liability insurance, but if the claims exceed your policy limits, your excess insurance coverage will make up the surplus.

Advertising or Reputational Injury 

Advertising or reputational harm is cited as some of the most common reasons for lawsuits against companies. Commercial excess liability coverage protects your business against damages caused by libel, defamation, slander, or intellectual property issues. It also helps pay for costs related to these incidents.

Who Can Benefit From Extra Coverage?

You and your business will benefit from commercial excess liability coverage if:

  • You have constant or a high level of foot traffic;
  • You handle hazardous materials or regularly transport goods to and from a client’s property;
  • You employ staff for your business; and
  • You work in the construction, manufacturing, or similar industries and face personal injury or property damage claims.

The above qualifiers also equate to substantial risks of damage, theft, or vandalism that could result in losses of thousands to hundreds of thousands of dollars. 

Contractors Insurance has helped various clients set up their insurance policies to get their best and most comprehensive coverage. If you have any questions about personal excess liability coverage or if you’d like to get started, we’re happy to help.

How This Insurance Protects Ontario Contractors From Claims

Excess liability insurance provides peace of mind. Aside from the primary policy that offers you blanket coverage, purchasing excess casualty insurance will provide additional protection in case claims made against you exceed the limits of your original policy.

Examples of Excess Liability Claims

Claims Example #1
  • Problem Icon

    A tradesperson fixing the lights in a client’s ceiling takes a serious fall and sustains injuries to his back, hand, ribs, and shoulder. After an investigation, the homeowner was found liable for the injuries.

  • Outcome Icon

    The claim is settled through the homeowner’s excess liability insurance, amounting to $8.9 million.

Claims Example #2
  • Problem Icon

    A woman is struck by a car while crossing the road, causing severe brain injury and leading to the amputation of one of her legs. The investigation concluded the driver’s negligence was to blame for the accident.

  • Outcome Icon

    The damages and medical fees, amounting to $26.2 million, is covered under the driver’s commercial auto insurance coverage and excess liability insurance.

Claims Example #3
  • Problem Icon

    While out taking the trash, a man is attacked by a neighbour’s dog and sustains gashes on his legs as well as a lower back injury. The injured man insists that his neighbour is liable for his medical expenses.

  • Outcome Icon

    The investigation concludes the neighbour’s excess liability insurance should pay for the damages incurred. The total claim payment amounts to $7.7 million.

Ontario’s Leading Insurance Provider

At Contractors Insurance, we build long-lasting relationships with our clients. Together, we overcome obstacles and provide them with the best insurance policies

We offer the following benefits:

Personalized Insurance Plans 

Our personalized insurance plans are tailored specifically to the unique risks of each client with no unnecessary riders. You can secure excess liability insurance, along with any additional coverage you might need.

Transparency on Coverage and Limitations 

Technical terms and insurance jargon are confusing. When dealing with us, expect to know the ins and outs of your insurance coverage on the same level as we do. We’ll explain every detail, what triggers a claim, your limits, and its exclusions.

Thorough and Straightforward Education 

We want our clients to know their insurance plans like the back of their hands. We make it a priority to be clear and concise in our explanations. Once we’re on the same page with clients, we can better personalize their insurance policies.

Frequently Asked Questions

Excess liability insurance coverage varies per case because it is dependent on several factors. How much coverage you need, your industry, and the size of your business will help determine the total cost of your insurance plan.

Although they add extra protection on top of the existing policy limit, umbrella insurance enables the policyholder to extend the coverage on multiple policies at once. Excess liability insurance is meant to cover only one underlying policy.

Although many business owners feel as if their existing policies can cover the expenses from most claims, you should consider excess liability coverage for your company if you face substantial liability risks. 

Another reason to consider is if the liabilities you encounter pose a higher-than-average level of danger to others, such as if you manufacture dangerous goods for a living.

Get the Excess Liability Insurance Coverage You Need

Contractors Insurance is an award-winning insurance brokerage based in Ontario dedicated to personalizing insurance for clients across multiple industries. We ensure the policies you purchase fit your business’s unique needs with no unnecessary costs.

Contact us today for detailed inquiries about our excess liability insurance, or get started with a free quote!

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