Can I claim for a damaged item twice?? (i.e. on two separate valid insurance policies that I have)?

You can have as many different policies you want, (and pay as many different times as you can afford) but generally, it is illegal to benefit more than once from a loss. It is referred to as 'double dipping' and it is illegal, even on completely independent policies. The only exception is life insurance where an individual may have more than one policy and all the policies will pay upon the death of the covered person.

If you are unsure about the 'double dipping' rule, you can do an internet search or you can ask the company which sold you the insurance policy if this is permitted in this case.

It is better to be safe than sorry. Insurance companies have really nice, warm commercials but behind these commercials are armies of lawyers with huge resources to investigate and sue those suspected of insurance fraud. No camera is worth that hassle.

You can claim twice but if either insurance company finds out you've claimed twice they will both want their money back and will prosecute you for fraud.

In your eyes you may think you can claim twice legally, but you need to replace your legal glasses as they don't work. In the small print that you signed you will have confirmed that you have no other insurance in-place on the items covered... and by taking out both policies you may have given BOTH insurance companies an out from paying at all. You effectively lied on the insurance policy applications and that gives both companies an out. Insurance companies hate paying out so they will look for every possible excuse not to pay you.

The aim of insurance is to cover you against loss. It is not to allow you to make a profit. Otherwise we'd all have multiple vehicle insurance policies and be forever smashing up our cars and claiming.

No. Each claim is not independent. You are not allowed to collect double. First, because it is not legal to benefit in that way. Second, because if it was, then it would be too easy to damage things on purpose in order to collect double the money. Third, if you actually bothered to read the contracts, you would see that any insurance contract covers only what is not being covered by other insurance. Contractually, it would be unfair for them to honor the compensation, since the contract says that they don't.

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Yes, you can - however, the coverage doesn't STACK, it "coordinates". The two policies will SHARE in the coverage. You don't get double paid. Read the insurance conditions about "other insurance".

That's why buying two policies to cover one thing, rarely makes financial sense.

And yes, if you try to "sneak it past" them and not tell them each about the other policy, they do have a VERY easy way of finding out.

It's called fraud. The purpose of insurance is to "make you whole" after a claim. If you receive payoff from both by not telling them that it is insured with both companies, then you have been "made whole" twice. It's considered fraud and a criminal offense. When you purchase insurance your info is out into a data base, the companies will know you have dual coverage. Dual coverage isn't illegal, but you can't get payoff from both.

You would need to notify each insurance company of your other protection plan. You should not be able to get more than 100% of the value of the camera. Otherwise it is insurance fraud which is a felony.

each vehicle that you own should be insured - they're oftentimes insured on one coverage, 2 or extra rules with an identical insurer or perhaps different insurers. each coverage will lose and earn its own no claims bonus - yet you should tell each insurer any replace in fabric info e.g an coincidence on one coverage would ought to stumble on techniques to the different insurer. Please do no longer use this technique to 'the front' coverage for youthful drivers.

I recommend one to visit this site where you can compare rates from different companies: http://quotes-for-insurance.net/index.html?src=5YA...

RE :Can I claim for a damaged item twice?? (i.e. on two separate valid insurance policies that I have)?

I have an item (my camera) that is damaged and would like to claim it my insurance. However, the item is covered on two separate insurance policies that I own.

Therefore can I claim money back from BOTH insurance policies? In my eyes it should be legal, because I have paid money for both polices and hence should be entitled for compensation for both? I have looked for insurance laws but can't find anything on this matter specifically.

I don't see the problem legally; each claim is surely independent, and contractually it seems unfair that they wouldn't honour the compensation if you have claimed it elsewhere?

Thanks,

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