Double Insurance, Principles of Insurance Video Lecture | Principles of Insurance - B Com

double insurance when same risk insane
subject matter is insured with more than
one insurance policies it's called
double insurance in other words there
can be one in single insurance of a risk
or more than one insurance for the same
risk by the same insurer or different
insurance the later is known as double
insurance or multiple insurance if the
sum insured exceeds the original value
of the subject matter that is called
over insurance the over insurance is
lawful if there is no expressed
condition is mentioned expressly in the
insurance contract X a beautiful house
insured his house against fire for RS 3
x width x and r rs.1 lakh words why this
is called double insurance features of
double insurance more than one policies
are obtained for the same all the
policies related to the same risk the
insured have equal insurable interest in
the subject matter the insured is same
recovery of lost the insured can enter
into contract of insurance with any
number of insurance when the loss occurs
the insured can claim only the loss
amount the insured cannot claim some
more than the actual loss