Stacking Insurance Policies

There are many different types of insurance coverages offered by insurance companies. You may even have multiple policies with one company. Is there some way to merge these policies together? There is, and it's called stacking.

Related: How To Save On Car Insurance Policies In Four Ways

What is stacking in Kentucky?
Stacking is when you take several different insurance policies and add them together for greater benefit amounts. For example, you have three cars insured on three different policies of insurance. You have $100,000 of underinsured motorist coverage on each of these cars. If you're in an accident and your damages total over $300,000, you may be able to collect on all three of these policies. First, you would look to the at-fault party, which is the person that caused the accident. Once you have obtained the limits of their policy, the underinsured coverage kicks in. If the damages exceed the policy limits, the three underinsurance policies may be offered. They would stack on top of each other allowing you to collect from all three policies.

Can my insurance policies be stacked?
Stacking is case and policy specific. Contact your insurance agent to see if the policy you have can be stacked in your particular situation. It will depend on the facts of the accident and the contractual language in your insurance policy. The insurance document you have agreed to controls this situation. Unfortunately, most insurance companies now show uninsured motorist and underinsured motorist coverages per policy, instead of per vehicle. This prevents stacking.

Related: Questions To Ask Your Auto Insurance Agent

As a Kentucky Accident Attorney, I want to emphasize how important car insurance is in protecting you and your family financially. It's also mandatory to have in Kentucky. The Kentucky Transportation Cabinet (KYTC) is trying to reduce the number of uninsured drivers in the state, and this is one way of doing that. If you are caught driving without current auto insurance, you will be penalized.

You may be wondering where to start to find car insurance. The best place to start is online. Look at the different rates, read reviews about the insurance company and even ask your friends and family how they like their insurance. If you have more specific questions, don't hesitate to call the insurance company directly. Taking these steps will help you find the best insurance for you. Also, you may be about to stack some of your policies which would help cover you even more in the event of an accident.

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