"Stacking" a Good Way To Increase Your Insurance Coverage
December 31st, 2016
| Michael A. Lombardo, III
“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.
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Hourigan, Kluger & Quinn is considered one of the top civil litigation and commercial law firms that has had the privilege of representing more families in the courtroom than any other NEPA firm. The attorneys at HKQ Law have been honored as Super Lawyers, Best Lawyers, Best Law Firms by US News and World Reports, and have received the AV Preeminent Rating by Martindale-Hubbel. HKQ Law was recently recognized for one of the top 20 Verdicts in Pennsylvania.
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Attorney Joseph A. Quinn, Jr. is one of only 100 attorneys in the United States (and one of only three in Pennsylvania) honored with membership in the Inner Circle of Trial Advocates, and one of only 500 attorneys worldwide chosen to be a Fellow of the International Academy of Trial Lawyers. He has been a Pennsylvania Super Lawyer every year since the program began and has been listed in The Best Lawyers in America every year since the publication was established in 1987. Best Lawyers also named him top personal injury attorney for Northeastern Pennsylvania and the Lehigh Valley. In addition, Best Lawyers, in conjunction with U.S. News & World Report, has designated HKQ a Tier 1 Best Law Firm for personal injury and medical malpractice litigation in Northeastern Pennsylvania and the Lehigh Valley.
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