Umbrella Express Policy

This is an optional policy that many businesses take out for an additional layer of coverage over the underlying general liability, business auto, work comp employers liability and any other liability policy they have. A true umbrella policy not only adds a million dollar limit over underlying policies, it drops down to cover something excluded on General Liability policy usually over a self insured retention i.e. deductible ($10,000). It will respond first dollar on losses not covered under any underlying policy. It is usually less expensive if you needed a $2,000,000 limit, to have a $1,000,000 umbrella over a $1,000,000 underlying policy than to have $2,000,000 general liability, $2,000,000 business auto and $2,000,000 work comp. An excess policy is like the umbrella except that it follows the underlying General Liability policy. There is no “drop down” feature.