Friday, 6 February 2015

Stacked Versus Unstacked Car Insurance

Stacked Vs. Unstacked Car Insurance

"Stacking" refers to a attribute of Car insurance policies that hit uninsured/underinsured motorist coverage. This type of coverage pays benefits provided another Chauffeur causes the accident, however has hasty or no insurance that would benefit remuneration your medical costs. Bodily injury coverage matchless pays benefits for the other driver and/or his or her passengers. With the expense of emergency transport, emergency margin disquiet, a Physician's now treatment, medications and other medical costs, PIP coverage can express quickly be Very tired after a austere Car accident.

About UM and BI

Some states close not crave Car insurance to constitute BI coverage, so without UM coverage, there is no expenditure for medical costs over and above the PIP limits provided the other Chauffeur hasn't bothered to add BI to his or her Car policy .

It further covers these costs provided the other driver left the scene of the accident and cannot be fix.

UM Coverage

UM coverage is critical, as it provides benefits moreover to personal injury Safeguard, which on most policies is regional to $10,000 with a deductible.

Moreover, insurance companies are not required to offer stacked UM coverage.

What Stacking Does

Stacking increases the limit of benefits the insurance company will acquire injury caused to you and/or your passengers by the other, uninsured or underinsured driver. The higher limit depends on how many cars are insured by the policy. For instance, stacking doubles the limits of benefits for a single accident if two cars, or more, are insured on the policy. If the limits for a single car on the policy are $100,000 per person/$300,000 per accident, and there are two cars on the policy, stacking doubles the coverage limits to $200,000/$600,000.

Non-stacked Coverage

Non-stacked coverage limits the amount of benefits per accident, no matter how many vehicles are covered by the policy. Without stacking, the benefits in the above example would remain at $100,000/$300,000. Also, non-stacked UM benefits purchased for one vehicle cannot be extended to other vehicles that are on the policy but without UM.

Stacking is Good

Stacking will increase the cost of the policy, usually by a reasonably small amount. It is important to refer to with your insurance agent on the limits of coverage, to make sure you have UM coverage and to verify that stacking is available and reasonably priced if you intend to insure two or more vehicles on a single policy.