If more than 60% of all Fort Lauderdale, Weston, Sunrise, Hollywood and similar South Florida vehicular accidents are caused by underinsured, careless or negligent motorists, then commonsense dictates that a prudent person purchase the maximum amount of underinsured motorist protection benefits that are offered by insurance carriers; such as Allstate, Geico, Progressive, State Farm or USAA – to name a few of the more highly visible or marketed and dominating insurance companies in the South Florida market.
The purpose of adding underinsured benefits to an umbrella insurance policy is to provide the maximum amount of payment for personal injuries and damages to an insured in the event of a very serious <a href=”http://www.schulaw.com/lawyer-attorney-1550411.html”>accident</a>. The underinsured motorist insurance benefits on an umbrella policy generally “kick in” over an underlying $250-$300,000 underinsured policy.
Thereafter, you can purchase underinsured benefits on your umbrella policy with starting as little as $25,000 of additional underinsured motorist benefits to as much as $2,000,000. One is always recommended to purchase the highest amounts of underinsured motorist’s benefits offered by your umbrella insurance company.
The way to maximize the full amount of underinsured motorist coverage is to demand full “stacking” benefits on your underlying automobile insurance policy, in conjunction with the umbrella insurance benefits.
<a href=”http://wiki.answers.com/Q/What_does_stacked_insurance_mean_in_Florida” target=”_blank” >Stacking</a>, is a term of art in the Florida insurance market which allows a Fort Lauderdale, South Florida insured to multiply the amounts of their underlying liability and underinsured or uninsured motorist benefits, simply by the number of vehicles maintained under the policy or insured under the policy. For instance, if a Florida auto, minivan or truck owner is insured for an underlying $250,000 worth of liability and uninsured motorist coverage and owns four vehicles, all insured under that policy, their benefits would be multiplied by four, and therefore their liability as well as their underinsured motorist insurance coverage would reach $1,000,000, before any umbrella benefits would apply.