What type of insurance provides excess coverage over and above the limits of insurance carried by a constructor?

Umbrella Liability Insurance is designed to provide additional coverage beyond the limits set by existing liability insurance policies, such as General Liability Insurance. This type of insurance acts as a safety net, stepping in when the liability limits of underlying policies have been exhausted. It offers broader coverage as well, covering various types of incidents not included in the standard policies. This makes it particularly valuable for constructors, as it ensures that they have adequate protection against significant claims or lawsuits that could exceed their primary policy limits.

For constructors, the risks associated with projects can be substantial, so having this extra layer of protection helps safeguard their financial stability. The other types of insurance mentioned focus on different areas of risk management and do not serve the same function of providing surplus coverage beyond existing liability limits. For example, General Liability Insurance is foundational coverage for claims related to injuries or damage to property, while Professional Liability Insurance protects against claims of negligence in professional services. Workers' Compensation Insurance deals specifically with employee injuries and does not cover liability claims, making Umbrella Liability Insurance the correct choice for excess coverage.