Excess Auto Insurance

Excess Auto Insurance Requirements

Auto insurance requirements may vary by state. An excess auto insurance policy can help to extend coverage to meet contractual or regulatory requirements. Excess auto coverage can broaden coverage liability limits to meet the needs of the insured.

Excess Auto Liability Insurance

Excess auto insurance is a liability policy. This means that the policy protects the insured in the event of the insured’s liability for damages to a third party regardless of fault, according to the specified terms of the excess auto liability insurance policy. An excess auto policy does not offer coverage for damages to the insured's property.

Excess Auto Liability Insurance vs. Property Coverage

It is important to understand that an Excess Auto Liability policy does not offer property coverage. Property coverage may be included in a primary auto insurance policy, but an excess auto liability insurance policy covers liability only.

Excess Auto Insurance Coverage

Excess Auto Insurance through WealthGuard can cover a broad risk appetite. Eligible risk categories include:

• Petroleum Product Haulers
• School Buses
• Ambulances/Ambulettes
• Para Transit
• Truckers
• Airport Shuttles
• Limos/Taxis (No Independent Owners)
• Certain Hired & Non-Owned (e.g., Pizza Delivery)
• Waste Haulers
• Contractor Fleets

Excess Auto Liability coverage through WealthGuard can provide excess for hired and non-owned vehicles, and can also be written to accommodate designated truckload for specified contracts.

What carriers offer excess auto insurance?

In many cases, excess auto insurance will fall to surplus lines brokers. Many carriers do not offer standalone excess auto insurance coverage, and some carriers will only offer excess auto liability insurance if they also carry the primary auto insurance.

A standalone excess auto insurance policy can be purchased through an excess and surplus lines brokerage such as WealthGuard Insurance Group.

Excess Auto Insurance Application

If you are a broker looking to submit an excess auto insurance risk for coverage, WealthGuard Insurance Group can help. When you contact WealthGuard, please be prepared to provide:

• Completed ACORD application
• Five years of currently valued loss runs
• Vehicle breakdown
• MVRs and Drivers List (only if available)
• Primary Carriers/Premium

Our team will assess the provided information relative to our markets, and will get back to you as soon as possible.

FAQs

What is excess auto insurance?

Excess auto insurance offers additional liability insurance beyond a primary insurance policy. In many cases, a company may need insurance with higher liability limits than a primary insurance policy will provide, or will need broader coverage than a primary insurance policy. Excess auto insurance provides this additional coverage. It is a separate policy from primary auto insurance.