Umbrella insurance is an add-on policy that extends the liability coverage of home, auto, and other personal policies. The liability limits on these policies are usually $100,000 or $300,000, but is that enough? An umbrella policy provides $1 million, $2 million, or more of coverage, and it is not just for the wealthy.

The cost of a short hospital stay can easily surpass $100,000, and the cost of long-term rehabilitation and lost income can also quickly reach six figures. Money damages can add up quickly if someone is injured in a car accident and you are at fault, or if a guest is injured on your property. You should seriously consider adding umbrella insurance to your personal insurance coverage if:

• You own a home
• You have teenage drivers
• You have a significant income or future earnings potential
• You own a business
• You own a boat, RV or motorcycle

The above are just a few situations when additional liability insurance is necessary, but there are many more. We can provide you with more information about those when you contact Meixell - Diehl Insurance.