Can I have more than one home insurance? If yes, what is the procedure?

Question

Can I have more than one home insurance? If yes, what is the procedure?

Answer 1

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Answer 2

There is really no point in having more than one homeowner's policy on your house.  In the event of a claim both policies would share payment of the claim in proportion to the amount of insurance on the policy.  For instance, if you had one policy for $100,000 and another for $50,000, the first policy would cover 2/3 of the claim and second policy would cover 1/3 of the claim.  Plus, each policy would be subject to co-insurance, a penalty that is levied againt your claim payout for not carrying full replacement cost coverage on the policies.  It's also most likely more expensive to have 2 policies instead of one.  Just get one policy to cover everything.

Answer 3

no, you cannot double insure.