If you live in one of the few states that allow stacked car insurance policies, you can increase you liability coverage in effect to collect double the amount of coverage for medical injuries and liability coverage if you own two cars by stacking insurance policies.
Stacked coverage allows you to collect twice on the full value of your car insurance policies if you carry coverage on two or more vehicles. It usually only applies to uninsured or underinsured motorist coverage.
How Does Stacked Car Insurance Work?
When you have uninsured coverage on two or more vehicles, you may have the option to "stack" these coverages. This means you take the value of both policies and apply it to one accident. So, if you get in an accident and the motorist in uninsured, and your uninsured motorist coverage offers $20,000 per accident, you can claim $40,000 on that accident.
You must select the stacked coverage option when you sign your policy . Geico offers this option to its policy holders who get their coverage online. It appears on your final PDF document, and you have the choice to decline of accept it. Do not accept it if you do not have two coverages. Read the option very carefully, as it changes depending on which state you live in.
Why Choose Stacked Coverage?
Stacked coverage just gives you the chance to collect on both of your policies if you are ever in an accident with an uninsured motorist. The odds of this are very long, but it does happen. If you choose the option and need it, you will benefit from it. Especially, today, when even just a few medical bills can cost tens of thousands of dollars. One accident could push you over the limits on your policy. If you carry passengers in your car frequently you might want to consider stacking your car insurance policies.
You could benefit from stacked coverage if you...
- Are concerned about injuries and medical costs
- Frequently carry passengers in your car
- Want extra uninsured motorist coverage and are willing to pay the extra cost
Do not opt for stacked coverage if you...
- Own and insure only one car
- Want cheap insurance rates and low monthly payments
- Are are not concerned about medical costs or additional injury coverage
What Does Stacked Coverage Cost?
Stacked car insurance coverage typically adds 10% to 30% to your premium costs. Remember the value is double the limits for bodily injury payments that you chose on your policy. So, when deciding if this is a good option for your car insurance policy, consider your limits first. Will they be enough to cover your expenses if injured? Are you willing to pay the additional cost each month?
Save money and get a FREE quote from AIGDirect.com by clicking HERE
| < Prev | Next > |
|---|
