Stacking vs Non Stacking Insurance
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Home Personal Finance Auto & Vehicle Insurance Comprehensive Car Insurance Information Stacking Vs. Non-Stacking Insurance
Stacking Vs. Non-Stacking Insurance
Print this article The option to stack auto liability coverage can be beneficial, if the option is available. The stacking insurance option applies specifically to uninsured and underinsured motorist coverages and is only available in some states.
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Uninsured and Underinsured Motorist
Uninsured and uninsured motorist coverages are commonly sold as single limits. For instance, the policyholder might carry $100,000 per person, $300,000 per accident with $100,000 in property damage, or 100 300 100. However, coverages can also be sold as combined single limits (CSLs), such as $300,000 CSL, meaning that the coverage will insure up to $300,000 per person, per accident and for property damage.
Non-Stacking Coverage
Uninsured and underinsured motorist coverages that are non-stacked are simply the coverages that are selected on the policy, whether single limits or combined single limits. Therefore, if the policy carries 100 300 100 for uninsured and underinsured motorist coverages, the insurance carrier will only pay up to the those amounts for any damages or injuries. If the damages or injuries exceed the policy coverage, the policyholder will either be required to pay the difference or can sue the at-fault party for the difference.
Stacking Coverage
Stacking coverages allow the policyholder to increase the uninsured and underinsured motorist coverages when the current limits are not enough to insure the damages and injuries. In most cases, the policy must insure more than one vehicle to be available as an option. The stacking option allows the policyholder to stack one vehicle s coverage on top of another vehicle s coverages to double the coverage. For instance, assume a policyholder insures two vehicles on one policy that has stacking options with 100 300 100 uninsured motorist. The driver can stack the vehicle coverages to $200,000 per person, so if injury costs are $150,000, the additional $50,000 of injury expense will be insured. Likewise, the combined single limit coverage of $300,000 would double to $600,000 if the $300,000 was not enough coverage.
Considerations
Only 30 states permit the stacking coverage option, and each state has its own restrictions as to how the stacking overage can be used. In addition, some insurance carriers do not offer the stacking even though the state permits it. It is important to speak with your insurance carrier for the available options. Carriers that provide the stacking option charge an additional premium for the coverage. As a result, a policy with stacking coverages may be slightly more expensive than one without it.
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Insure: Stacking Your UM UIM Auto Insurance Coverage CarInsurance: What is Stacking as Related to Car Insurance in Florida? Read Next:
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