Elevator Excess Liability Insurance
The elevator industry can be dangerous and with current litigation trends a claim can exceed your $1,000,000 General Liability limit. If you get hit with a claim that surpasses that amount of coverage, it’s important to have some extra coverage to be able to make up the difference. Excess liability insurance provides you with a safety net and extra protection.
What is Excess Liability Coverage?
Excess liability coverage is an insurance policy that you can carry in addition to your general liability and auto insurance in the event that you need more coverage to support a large claim. Excess liability can be used to support your existing elevator insurance coverage and provide you with an extra layer of financial security for whatever unexpected claims arise.
Why Do Elevator Contractors Need Excess Liability Insurance?
Elevator contractors, installers, and technicians should carry some excess liability insurance because of the nature of the elevator industry. Unfortunately, elevator accidents can happen, and the injuries can be severe.
Like construction, there can be many different risks that come with working on the job and making sure you have all the coverage you need is vital. Some of the main reasons for excess liability include:
High Risk Work
Working on elevators can be dangerous. Between repairing at large heights, tricky electrical configurations, and heavy machinery, there is always a chance of having an accident, which can lead to bodily injury and large claims.
Personal Injury Risks
Because of the dangerous nature of the work, the chances of you or someone else getting hurt on the job or at the site are much higher. Covering large medical costs and costs related to lawsuits can deplete your business financially without extra support.
Compliance
Some buildings may need your business to carry extra insurance in order to complete the project. Having this additional coverage could help you win more business and be ready to handle any type of elevator.
Benefits to National Elevator’s Excess Liability
Carrying excess liability to support any of your policies is important, but having expertise tailored specifically to the elevator industry is extremely important when you’re dealing with a specialized industry. Some other benefits of working with National Elevator include:
Custom Coverage
Whether you’re a contractor, inspector, or technician, you can get excess coverage designed specifically for the type of work you are doing. Our policies are designed with you in mind.
Experience
As one of the longest running elevator insurance companies in the country, our experts have seen it all. With a deep bench of industry professionals, we provide services that no other insurance company can provide elevator professionals.
Quality Claims Handling
We’ll make sure your claims are handled right away. Because our team is so specialized and so entrenched in the elevator industry, you’ll get the best service and expertise.
Competitive Rates
We’ll be able to provide the most competitive prices out there, because we know exactly how to craft policies for what you need most. Your coverage doesn’t have to break the bank.
Get started with National Elevator
Don’t let your elevator business go without the best elevator excess liability insurance. Contact us today to learn about how we can protect your business today.
National Elevator’s general liability underwriting is done by a carrier that is licensed and admitted in all states and provides you with coverage enhancements specific to your industry.
Our underwriting enhancements include:
- First Dollar Protection
- No Deductible or Self Insured Retention (SIR)
- Blanket Additional Insured coverage
- Blanket Waiver of Subrogation
- Per Elevator Aggregates
- Limited Pollution Coverage
When clicking on any of the Legal links, you’ll be redirected to Specialty Program Group, LLC’s website which is the holding company of National Elevator Insurance Solutions.