What is "stacking" of uninsured motorist insurance?
When you sign up for an auto insurance policy, it's critical that you also obtain uninsured/underinsured motorist coverage. This coverage specifically protects you, your loved ones, or your friends that are inside your vehicle in the event you are involved in an accident with an uninsured or underinsured motorist. Your uninsured/underinsured motorist coverage kicks in if you are in an accident with someone who has no bodily injury liability coverage, or someone who has very little coverage (not enough to cover you property damage and medical bills), or if they are breaking the law and don't have any coverage whatsoever. You never know when you may be in an auto accident and considering Florida's high percentage of uninsured drivers, the best way to avoid the risk of being involved in an accident with an underinsured or uninsured driver is to protect yourself through your own insurance policy.
Under Florida law, when you decide to carry uninsured/underinsured motorist coverage, your auto insurance carrier is required to offer you the option of "stacking" the uninsured/underinsured motorist coverage. What does stacking mean to you? Stacking means that you have the option of combining the coverage limits of your UM coverage on each of your vehicles to create a super sized policy.
How does it work? Let's say that you and your spouse have a vehicle under the policy and each car carries $100,000/$300,000 in UM coverage. If you or your spouse is involved in a collision with an uninsured or underinsured motorist, you get to "stack" the two UM policies so that you are now entitled to $200,000/$600,000 in UM coverage for the accident.
Think about it, stacked uninsured motorist coverage makes financial sense and is absolutely essential for households with multiple vehicles. You don't want to wind up being one of the thousands of consumers who had a false sense of security about having full coverage, only to find out that the insurance company put them down for "non-stacked" coverage. When you are involved in a serious accident, especially with multiple parties inside your vehicle, only stacked UM coverage will give you the financial compensation that you need to cover your medical bills and other financial losses.