If I am covered under both my own home insurance and the building’s master insurance, how is double insurance handled in practice?
Double insurance refers to the situation where two insurance policies cover an insured for the same risk. The insured has the choice of claiming under one or both of the policies but the insured cannot recover double. Once an insurer has paid the insured for his loss, there is no more loss for the second insurer to pay.
As between the insurers, they may seek contribution against each other depending on the terms of their policy.
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