Illegal to hold two insurance policies on your coup¨¦?
I was told by someone it is and by another that it is not. Is it illegal to enjoy two insurance policies on your car?
Answers:
yes
No it's not illegal to own to policies on the same vehicle, it's just a spend in dribs and drabs of money. Any policy has a clause that states it there is more than one policy within force on the same property then that policy will merely pay a portion of the loss that equals their share of the risk. So if there are two policies respectively policy will pay 50% of the loss, three policies 33%, etc. If you make a claim on both policies and do not claim that there is more than one policy and try and keep that unprofessed then you aer committing fraud.
Not illegal, per se, but most personal auto insurance policies own clauses in them that void their coverage if you hold another policy. If both of your policies have that clause, you may be paying double for no coverage! Source(s): 16 years insurance industry experience
Great grill and thank you Pamela for the answer - my husband just found out his father never took his car sour his insurance despite the fact we have have insurance on the car for the last two years.
No its not illegal unless you try to wallet a claim with both of them . then its inserence frod. I enjoy what they call an umbrella policie it covers any thing that my nrmal motor and home insurance would not cover incase I hit a 10ok car and it gets totaled and ny 50k insrance cant cover the bill. It would pick up the remainder.
no, i don't think so
although you can't file two claims for one incident. that'd be pretty crooked
i imagine its quite expensive though
Easy answer,nope.Not solvable put somebody through the mill,nope.Have a look here
http://www.Autoinsurancepro.info
your answer may be here
Related Questions:
Answers:
yes
No it's not illegal to own to policies on the same vehicle, it's just a spend in dribs and drabs of money. Any policy has a clause that states it there is more than one policy within force on the same property then that policy will merely pay a portion of the loss that equals their share of the risk. So if there are two policies respectively policy will pay 50% of the loss, three policies 33%, etc. If you make a claim on both policies and do not claim that there is more than one policy and try and keep that unprofessed then you aer committing fraud.
Not illegal, per se, but most personal auto insurance policies own clauses in them that void their coverage if you hold another policy. If both of your policies have that clause, you may be paying double for no coverage! Source(s): 16 years insurance industry experience
Great grill and thank you Pamela for the answer - my husband just found out his father never took his car sour his insurance despite the fact we have have insurance on the car for the last two years.
No its not illegal unless you try to wallet a claim with both of them . then its inserence frod. I enjoy what they call an umbrella policie it covers any thing that my nrmal motor and home insurance would not cover incase I hit a 10ok car and it gets totaled and ny 50k insrance cant cover the bill. It would pick up the remainder.
no, i don't think so
although you can't file two claims for one incident. that'd be pretty crooked
i imagine its quite expensive though
Easy answer,nope.Not solvable put somebody through the mill,nope.Have a look here
http://www.Autoinsurancepro.info
your answer may be here
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