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‘Stacking’ a Good Way To Increase Your Insurance Coverage

“Stacking” is an auto insurance concept that is unfamiliar to most people, but it can help provide you with needed coverage if you are hurt in an accident. Stacking comes into play when you are purchasing uninsured motorist (UM) or underinsured motorist (UIM) coverage as part of your auto insurance policy. Uninsured motorist coverage protects you if you are injured in a car accident and the responsible party doesn’t have any insurance to compensate you. Underinsured motorist coverage protects you if you are in a car accident and the responsible party doesn’t have enough insurance to fully compensate you.

If you purchase UM/UIM coverage, you can choose to buy it either on a “stacked” or “unstacked” basis. That means if you have multiple vehicles insured under your policy, and you elect stacking, you can add up, or “stack,” the coverage from each vehicle to create a larger pool of insurance coverage if you are hurt in an accident. Usually it doesn’t cost more to stack your coverage, and it could provide crucial coverage if you are hurt in an accident.

Bear in mind, many people drive around these days with minimal insurance coverage. All you need to do is turn on the television and you can see insurance companies advertising insurance coverage for less. While cheap insurance seems like a great way to cut costs, if you are injured by someone with minimal coverage and you haven’t chosen UM/UIM coverage, you could be left without enough insurance to cover your damages. The only real way to protect yourself is to make sure you have adequate UM/UIM coverage. If you can afford it, it’s also a good idea to choose stacking to increase your available coverage.

Credit: Michael A. Lombardo, Esq.