What is the Definition of Stacking?

What is the Definition of Stacking?

Practice that increases the money available to pay auto liability claims. In states where this practice is permitted by law, courts may allow policyholders who have several cars insured under a single policy, or multiple vehicles insured under different policies, to add up the limit of liability available for each vehicle.

Source: Insurance Handbook A guide to insurance: what it does and how it works | https://www.iii.org/

Label: Insurance
Theme: Dictionary of Insurance Terms

Other Questions: What is the definition of Annuity?

What is the Definition of Stacking?

You can find random definition and meaning of insurance terms below:

What is the meaning of Policy Reserve

the amount of money allocated specifically for the fulfillment of policy obligations by a life insurance company; reserves are in place to safeguard that the company is able to pay all future claims.

What is the meaning of Policyholders Surplus

assets in excess of the liabilities of a company or net income above any monies indebted to legal obligation.

What is the meaning of Pollution

environmental contamination.

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