Among the many options you get when choosing car insurance, you may be curious about what the term “stacking” means. It`s a pretty simple idea where your UM/UIM (uninsured/underinsured) coverage is multiplied to offer you and your loved ones better protection after an accident. As with any insurance policy, the more coverage you have, the more expensive the policy will be. Stacking your uninsured driver coverage is more expensive than buying separate, unstacked coverage because you`re doubling your coverage limit. In Florida, an uninsured motorist will protect you if an uninsured driver hits and damages your vehicle or injures you and your passengers. More than one in 10 U.S. drivers are uninsured, and this rate is significantly higher in some areas. Stacking means you can combine the UM coverage you have for each vehicle you own to increase your insurance payment limits. Stack insurance gives you much-needed protection if you`re injured in a car accident and the guilty driver has little or no insurance. First, stacked insurance becomes an option if you own and insure multiple vehicles. If you`re in an expensive accident, stacked coverage means that even if the other driver isn`t insured, you`re still insured for twice the amount of a single policy. If you have uninsured or underinsured motorist coverage for multiple vehicles, you are insured up to a certain limit for each vehicle. But what if you are involved in an accident that causes $150,000 in damage and your coverage limit was $100,000? On the other hand, the cost of an untapped/regular auto insurance policy is lower than that of a stacked policy.
Keep in mind, however, that you could pay more out of pocket if you have an accident with an uninsured or underinsured driver. Let`s say you insure two vehicles with the same auto insurance policy. They each have a coverage limit of $100,000. If an uninsured or underinsured driver meets you, your insurance company will pay up to $200,000 for medical bills related to an accident. Stacking only applies to uninsured and underinsured drivers (UI/UIM). UI/UIM protects you when a driver who has no insurance or is underinsured meets you. Stack insurance is a way to increase your coverage and coverage if you have an accident with an uninsured or underinsured driver. Stacked insurance combines the coverage limits of either multiple policies a driver is in or multiple cars on the same policy.
If you own more than one car, there could be a way for you to combine liability insurance limits for multiple vehicles to protect yourself from damage caused by an uninsured or underinsured person. You can do this with stacked insurance coverage. A stacked insurance limit adds up the policy limits for multiple insured vehicles. It increases the maximum amount that the insurance company will reimburse you. An unstacked insurance limit is the policy limit for a single vehicle. Stacking of auto insurance policies is allowed in 32 states to some extent. It is also limited to covering injuries. Property damage coverage cannot be stacked.
Underinsured drivers (UIM) protect you from other drivers on the road. If someone causes an accident that causes more damage than their insurance policy covers, UIM coverage will protect you from the difference. Stacked auto insurance is a way to maximize your medical care if you are involved in an accident caused by an uninsured or underinsured person. By stacking insurance, UM/UIM coverage limits can be combined from multiple policies and impose a higher cap on insurance paid for post-injury care. Stacked auto insurance is available to drivers in about 30 states, including Florida, who insure more than one vehicle or have more than one insurance policy for a single car. Unstacked insurance is essentially a regular auto insurance policy. Of course, auto insurance policies can vary greatly, but if you don`t stack your coverage, your policy won`t be stacked. Your coverage is only what is listed on your policy`s reporting page. If you have an accident, your coverage rate is not as high as with a stacked policy. Not all insurance companies offer stacked insurance, even in states where it is allowed.
Some states allow insurers to add anti-stacking language to policies. There are two ways to stack insurance: by combining coverage limits for different cars with the same policy, or by combining coverage limits for vehicles with separate policies. For example, let`s say you have insurance for two cars. The policy limit for UI/UIM coverage is $100,000 for each vehicle. If you have an accident with an uninsured or underinsured driver and they are to blame, your insurance company will pay up to $100,000 in accident-related medical bills. Stacked insurance allows you to combine the policy limits of multiple vehicles. If you need insurance for more than one car, it can provide greater coverage after an accident. Stacked insurance is especially useful when an uninsured driver or someone without much insurance hits your vehicle. It`s easy to see why coverage is important for uninsured/underinsured motorists and why stacking can make all the difference, especially if your health insurance doesn`t cover certain procedures. And remember that you can change your insurance policy at any time, but make sure you do so before you need it.
Many Florida drivers don`t understand the importance of “stacked” auto coverage or don`t know the difference between stackable and non-stackable insurance. That`s where stacked insurance comes in. Stacked insurance coverage begins where the guilty driver`s liability insurance ends. It can help cover medical bills left by the other party`s exhausted liability insurance. If you only own one vehicle that has uninsured motorist coverage, you are responsible for such damages. .