When purchasing auto insurance, you should consider whether to purchase stacked UM (uninsured motorist) coverage. Most insurance companies offer stacked coverage, but the policy holder doesn’t understand fully the difference in coverage before making the election. You will see why purchasing stacked coverage though you only own one vehicle can be a good investment.
Both stacked and non-stacked UM provides coverage which is “portable” meaning it follows a policy holder into non-owned vehicles and as a pedestrian. Both cover the following:
* named insureds under the policy, the resident spouse, and related persons who reside in the household, such as children.
* an insured while occupying an auto not owned by them. For example, when you rent a car or borrow a friend’s car
* accidents out of state
* insured while on a business errand or in a vehicle owned by their employer
* insured who is occupying a non-owned motorcycle
* insured struck as a pedestrian by an uninsured motorist
Non-stacking coverage provides the coverage you purchase on the one vehicle. Stacking coverage allows you to stack the coverage you purchase on each insured vehicle.
Stacked UM Responds in the following cases when non-stacking does not:
* the policy holder obtains a second vehicle but does not report the vehicle within the allowable reporting period of 14-30 days. Two months later the policy holder is injured by an uninsured motorist.
* the policy holder owns a junk car, not licensed and used only a few times a year. Policy holder is injured by an uninsured motorist while driving the clunker on a rare occasion.
* the policy holder, who resides up north, insures one vehicle in Florida under stacked UM and owns another vehicle up north. While occupying a northern vehicle, the policy holder is injured. The Florida policy with stacked coverage responds.
* the policy holder insures his motorcycle but rejects UM due to the cost. The policy holder carries stacked coverage on his auto. Policy holder is injured by an uninsured motorist while occupying his motorcycle.
As you can see, there are times stacking UM coverage responds to provide broader coverage. If you are involved in a vehicle accident, contact the Law Office of Laurie D. Mitchell (352-371-9828) to take advantage of your valuable UM benefits.