As a knowledgeable professor in finance, it is crucial to understand the concept of excess insurance coverage. This type of coverage provides protection for losses that exceed the limit of a primary insurance policy, such as homeowners or auto insurance. It is important to note that the terms of excess coverage may differ from those of the underlying policy, potentially offering a wider scope of protection. This insurance serves as a valuable tool for individuals and businesses alike, providing an added layer of security in the event of unforeseen losses.
