Benefits of Stacked Car Insurance

Not all states allow car insurance to be stacked. Stacking occurs when you have multiple vehicles, a policy that includes each, and are able to combine the coverage amounts. This is specific to policies that include coverage for uninsured drivers. Just about half of all states allow stacked insurance for vehicles. There are definite benefits to stacking insurance.

Increased Coverage

Your coverage increases by the number of vehicles you own and have insured. So, two vehicles will double your coverage while three triples it. If you are in an accident caused by an uninsured motorist, you have additional coverage with stacked insurance on the three vehicles you own. Your individual coverage may be $50,000 per person involved in the accident and $100,000 per incident. But your stacked coverage is now $150,000 per person and $300,000 per incident.

Affordable Rates

Stacking may increase your rates but when you consider the amount of coverage you have as a result, your premiums will be much lower than if the policies had been purchased separately. Insurance can be expensive so when you are able to add coverage in a creative way, you should take advantage of the opportunity, especially if the increase in cost is small compared to the value of the coverage.

Peace of Mind

If you live in an area that has a high percentage of uninsured or even underinsured motorists, this added coverage can be particularly beneficial. Your insurance provider can let you know your risk of being involved in an accident with an uninsured driver. Being able to take care of yourself and your passengers after an accident is important.

If one of the two parties involved in the accident does not have insurance, financial responsibility falls on the one that is covered even if they are not at fault for the accident. You will have to pay your own medical bills as well as those of your passengers in this situation. While suing uninsured drivers is an option, it does not always pay to take this particular course of action. It is better to have sufficient coverage from the start.

Stacked car insurance may be a new concept for you but it is a type of coverage that many people enjoy. You can check with your current insurance company to find out if your state allows stacking. If it does, find out how you can take advantage and get better coverage against uninsured and underinsured drivers. It is well worth the cost for your peace of mind.