Can you claim insurance payouts on multiple policies for the same goods?

Question

Can you claim insurance payouts on multiple policies for the same goods?

Answer 1

Don't think you can.

Answer 2

Dont think so..... wouldn,t  that be fraud..... if you only had one lot of goods &   you've only lost the goods once  how can you claim for them more than once even if you did insure them with more than one insurer. That would be a bit like printing your own money!

Answer 3

No you can only claim for one lot of damage once and from one insurer.

Answer 4

They thought of that one long ago and can check what cover you have with other insurers

Between them they agree which one will pay out - usually the one with the largest excess i.e you pay the first £x on a claim

Answer 5

No. That's called insurance fraud.

Answer 6

No unless the agreement has been made between the two insurance companies that each will pay a certain percentage of the claim.  You can't get more than 100% of the current value.

Answer 7

Im sure you could as you paid paid the premium , works for life insurance

Answer 8

afraid not...insurance works on the principle of indemnity. That is it will put you back in the SAME financial position as you were before the loss. Not better off. There is a central claims database to stop people doing just this. What will happen is the insurers will either share the loss or more likely if it's probably relatively small just one will pay. There's usually a section on a claims form which asks if the goods are covered elsewhere, obviously if you say no and then try to claim elsewhere, you'd be committing fraud.

Answer 9

Usually not.  Most policies have a clause stating that they'll only pay if the goods are not covered under other reimbursement.

Answer 10

no. say for arguements sake under your home insurance you have cover for items away from your home and you took out an travel insurance policy which covers your belongings when you travel. if you were to make a claim, your travel insurers would split the cost with your household insurers. if you claim on multiple policies - this is fraud. bear in mind all insurers are linked via databases nowadays to prevent things like this. i work for an insurance broker.

Answer 11

No that is called fraud.