Stacked vs Unstacked UM/UIM Auto Insurance

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FIREGuy88
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Stacked vs Unstacked UM/UIM Auto Insurance

Post by FIREGuy88 »

Is there any reason to get stacked UM/ UIM if you only have one vehicle?

I have one vehicle (Motorcycle, Florida), and I'm trying to decide between a Geico stacked UM/UIM vs a non-stacked.

I understand you pay a higher premium and get more coverage with stacked. But if you only have one vehicle, do you actually get more coverage? Is there any benefit to doing stacked if you only have one vehicle?
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FOGU
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by FOGU »

Florida is in the top 6 states for percentage of uninsured drivers. 20% of drivers are uninsured, according to the article linked. I don't know if they drive on the same roads as you. But it's a good bet some of them do. That's a pretty good reason for higher limits on your UM/UIM.

If you have two vehicles, and you get clocked by an uninsured motorist, with stacked UM/UIM, the limits are doubled. You can only drive one vehicle at a time, but it only takes one impecunious uninsured motorist ruin your day.

The number of vehicles you own is only relevant to how many UM/UIM coverages you can purchase and stack. If your UM/UIM limits are high enough already, maybe you don't need to stack. Look into the cost difference between buying the limits you need and the stacking of the two to get those same limits.

https://www.insurance.com/auto-insuranc ... erage.html
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FIREGuy88
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by FIREGuy88 »

Thanks for this, so I would only buy stacked insurance with one vehicle if I was buying multiple UM policies, correct?
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by FOGU »

FIREGuy88 wrote: Wed Apr 07, 2021 7:53 pm Thanks for this, so I would only buy stacked insurance with one vehicle if I was buying multiple UM policies, correct?
Easier to quote the article than try to rewrite it myself:

Stacking uninsured motorist and uninsured motorist bodily injury insurance

In some, but not all, states you can elect to stack your uninsured motorist bodily injury and/or underinsured motorist bodily injury coverage. With stacking, you typically pay a bit more for the ability to raise your limits by the number of vehicles you have insured in your household.

For example:

Jane has two cars in her household. Each vehicle has UMBI limits of 100/300, so if she needed to use her coverage, Jane and her passengers could receive $100,000 per person and her limits would top out at $300,000 per incident. Instead, if Jane stacked her UMBI coverages, her limits would double to 200/600. If she had three cars and stacked all the coverage, she could have 300/900 in UMBI coverage.

In general, there is no limit on the number of vehicles that can be insured and whose UMBI coverages are stacked. If you only have one car on your policy, then stacking is not an option for you, but if you have multiple vehicles, stacking can be one of the perks of multi-car insurance.

If your state allows stacking, stacked car insurance is available to drivers in roughly 30 states, be aware that not all car insurance companies offer a stacking option.
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FIREGuy88
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by FIREGuy88 »

FOGU wrote: Wed Apr 07, 2021 8:01 pm
If you only have one car on your policy, then stacking is not an option for you, but if you have multiple vehicles, stacking can be one of the perks of multi-car insurance.
So yes? If I only have one vehicle, buy unstacked. Correct?
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by tashnewbie »

FIREGuy88 wrote: Wed Apr 07, 2021 8:33 pm
FOGU wrote: Wed Apr 07, 2021 8:01 pm
If you only have one car on your policy, then stacking is not an option for you, but if you have multiple vehicles, stacking can be one of the perks of multi-car insurance.
So yes? If I only have one vehicle, buy unstacked. Correct?
Have you confirmed with the insurer that you can even buy a stacked policy on one vehicle? I don’t think it’d be possible. I’m pretty sure a single vehicle can’t be covered by multiple policies.
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by FOGU »

FIREGuy88 wrote: Wed Apr 07, 2021 8:33 pm
FOGU wrote: Wed Apr 07, 2021 8:01 pm
If you only have one car on your policy, then stacking is not an option for you, but if you have multiple vehicles, stacking can be one of the perks of multi-car insurance.
So yes? If I only have one vehicle, buy unstacked. Correct?
Stacking of coverages is not a relevant question when you have only one vehicle. Stacking does not apply to a one-vehicle situation, only two or more. Buy unstacked. Your agent should not be trying to sell you stacking of coverages when you only have one vehicle.
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by FIREGuy88 »

FOGU wrote: Thu Apr 08, 2021 5:49 am Stacking of coverages is not a relevant question when you have only one vehicle. Stacking does not apply to a one-vehicle situation, only two or more. Buy unstacked. Your agent should not be trying to sell you stacking of coverages when you only have one vehicle.
This ended up being incorrect. You can stack coverage with only one vehicle. Stacking UM will follow you to other vehicles as well. So if you're in an Uber or a friend's car and hit by someone un-insured, you're covered. Also covered as a pedestrian.

Non-stacked only covers you on that one insured vehicle, and doesn’t extend to you as a passenger in someone else’s vehicle.
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by bgf »

FIREGuy88 wrote: Sat Apr 10, 2021 2:32 pm
FOGU wrote: Thu Apr 08, 2021 5:49 am Stacking of coverages is not a relevant question when you have only one vehicle. Stacking does not apply to a one-vehicle situation, only two or more. Buy unstacked. Your agent should not be trying to sell you stacking of coverages when you only have one vehicle.
This ended up being incorrect. You can stack coverage with only one vehicle. Stacking UM will follow you to other vehicles as well. So if you're in an Uber or a friend's car and hit by someone un-insured, you're covered. Also covered as a pedestrian.

Non-stacked only covers you on that one insured vehicle, and doesn’t extend to you as a passenger in someone else’s vehicle.
This must be state specific, and the terms of the policy will make it clear. If you are a passenger in someone else's vehicle and that vehicle has UM coverage, you may have UM coverage under that policy as an occupant. You should also have coverage under your policy as a named insured even if your vehicle wasn't involved in the accident. There would need to be an analysis as to which policy was primary, but you'd be covered under both. Are you saying that your policy if you choose no stacking will not provide any UM coverage in that scenario?
“TE OCCIDERE POSSUNT SED TE EDERE NON POSSUNT NEFAS EST"
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Re: Stacked vs Unstacked UM/UIM Auto Insurance

Post by FOGU »

FIREGuy88 wrote: Sat Apr 10, 2021 2:32 pm
FOGU wrote: Thu Apr 08, 2021 5:49 am Stacking of coverages is not a relevant question when you have only one vehicle. Stacking does not apply to a one-vehicle situation, only two or more. Buy unstacked. Your agent should not be trying to sell you stacking of coverages when you only have one vehicle.
Non-stacked only covers you on that one insured vehicle, and doesn’t extend to you as a passenger in someone else’s vehicle.
It's not "stacking" because you don't own the coverage on someone else's vehicle. But you can make a UM/UIM claim against both your own coverage and the coverage on the vehicle in which you are injured. Whether damages are sufficient to reach the second policy (whichever is not primary) is another question.
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