Do you own a car and get its insurance policy renewed every time it falls due? Have you also not met any accident or incident while driving and you feel that you have simply wasted your money by purchasing insurance policies and getting it renewed?
If your answer to the first question is “YES” and the same for the second is “NO”, then you are a wise and civilized citizen.
Here are a few points to let you know the benefits of stacking your auto insurance coverage:
1. Your Additional Coverage
Stacking is the term used in case of under insured or uninsured coverage of your insurance policy. Suppose you are hit by a car and the driver at fault has insufficient amount of coverage in his policies and he is unable to pay you the required amount for injuries, then using the facility of stacking you can recover from your uninsured coverage of your policy.
2. Bodily Injury to Others
You get the benefit of additional coverage and his coverage protects your legal liability if someone else is injured or killed or his property is damaged and you are found legally responsible for this action.The coverage by medium of stacking will pay for legitimate claims against you.
If you are injured or killed in an automobile accident, the mandatory coverage protects you regardless of who caused the collision. These benefits include Income replacement, Medical, rehabilitation and attendant care expenses, Funeral expenses, Payments to survivors of a person who is killed, Care expenses to those who can’t continue as a primary caregiver to a member of the household.
4. Uninsured Automobile
If an uninsured motorist has injured you or you are the victim of hit and run case, you get the cover from stacking of your policy.
5. Direct Compensation for Your Property Damage
You can claim for damage to your vehicle that has been caused by someone else. This amount of coverage would be extent that you are not-at-fault in a collision with another vehicle. The compensation is paid by your own insurer.
6. All Perils
Under this plan your vehicle is insured for theft, loss or other damages also in addition to incidental or accidental damages. You get the benefit even if you have hired a drive to drive, service or repair your vehicle.