What is the definition of Stacking?
Stacking refers to the practice that insurance companies and policyholders use to ensure that there is more money available to pay for claims made due to auto accidents. These allow the limit of liability to add up for each vehicle when a single policy is bought to cover multiple cars, or when different policies insure multiple cars.
When there are multiple vehicles carried on one policy, the amount of coverage provided will increase. When a driver meets with an accident with someone who is insured, the driver's insurance company will pay additional benefits over and above what the other driver's insurance company pays.
Stacking also protects the insured against meeting with accidents with a driver who has no or little auto insurance.
| Not a bit | Very useful |
- Standard Risk Class
- Statutory Accounting Principles (SAP)
- Stock Insurance Company
- Straight Life Annuity
- Structured Settlement
- Subrogation
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