An umbrella insurance policy is extra liability insurance coverage that goes beyond the limits of the insured’s home, auto or watercraft insurance. It provides an additional layer of security to those who are at risk for being sued for damages to other people’s property or injuries caused to others in an accident. It also protects against libel, vandalism, slander and invasion of privacy. An umbrella insurance policy is very helpful when the insurance owner is sued and the dollar limit of the original policy has been exhausted. The added coverage provided by liability insurance is most useful to individuals who own a lot of assets or very expensive assets and are at significant risk for being sued.


Also called stop-loss insurance, aggregate excess insurance is an insurance policy that limits the amount that a policyholder has to pay out over a specific time period. Aggregate excess insurance is designed to protect policyholders that experience an unusually high level of claims that is considered unexpected. Aggregate excess insurance provides payment for total losses that occur over a period of time, and is not limited to a per occurrence basis.

This type of insurance coverage is most likely to be purchased by companies that self-insure. The decision to self-insure is based on the company’s estimated losses given its loss experience, but if losses are far higher than expected the company may not be able to cover the amount. To cover itself from this portion of loss, the self-insuring company will purchase aggregate excess loss insurance to cover the difference between the amount of losses that it is able to effectively self-insure, and the amount of losses in total that it may experience during a catastrophe.

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