Can You Stack Auto Insurance in Texas?
“Stacked” auto insurance is a combination of uninsured and underinsured motorist coverage. This type of insurance allows you to gain a higher level of protection if you are injured in an accident – but it is a little more costly. Texas allows for stacked insurance, which permits you to add together the value of more than one type of coverage, or your coverage and a family member’s coverage.
Stacked insurance can prove to be a huge benefit if you are in an accident with an uninsured driver, or an underinsured driver with coverage so low that it cannot cover the costs you incurred after an accident with serious injuries.
After an Accident: When Your Auto Insurance Comes into Play
An accident with an uninsured driver makes it impossible to pursue compensation through his or her insurance company. As the driver was not covered, it is pretty unlikely that a lawsuit would be effective – the person likely does not own assets that could be accessed to cover a judgment rendered in court. However, your own auto insurance, if you are covered for an uninsured motorist, can be accessed.
Before You Settle: Talk to Us.
Before accepting a settlement offer and giving up on ever recovering fair compensation, you should have your auto insurance policies reviewed by our firm. Some insurance companies (read the small print!) may not pay you if you have settled with the driver’s insurance company, unless you have first gotten specific approval. This error could lose you tens of thousands of dollars. We urge you to speak with our team at The Lenahan Law Firm immediately if you were in an accident with an uninsured or underinsured driver.
Texas Law and Auto Insurance
You are not required to purchase uninsured or underinsured driver coverage when you buy your auto insurance. You are merely required to tell your auto insurance provider in writing that you don’t want it. While you may want a low monthly payment, driving around Denton County or any area of Texas could lead to a serious financial problem if you are in an accident with an uninsured or underinsured driver.
In Texas, 8.3% of drivers are uninsured, according to the Insurance Information Institute. What that means in the real world is that 8 out of every 100 drivers you have failed to follow the law and drive with insurance. When traveling the streets and highways, you put yourself at risk of facing a very serious financial disaster if you are in an accident with one of these irresponsible drivers. Your own insurance is a critical point in protecting your assets.
One of the most common reasons people are forced to file personal bankruptcy is the inability to pay expensive medical bills. To protect yourself and your family, you should find out about stackable insurance – it could make a dramatic difference in how much you can recover after a serious or fatal vehicle accident.
After an Accident with Serious or Fatal Injuries: Get Legal Assistance
At The Lenahan Law Firm, our Dallas auto accident lawyers can help you determine how to seek to recover the maximum in compensation. If the responsible driver was uninsured or did not have enough liability insurance to cover your costs, we can evaluate your situation, review your insurance policies, the assets of the responsible person, and advise you of the legal approach to take.
Contact us today at (214) 295-1008 for a free case evaluation.
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- Charles D.
