If you have two insurance policies on the same property, the _____ explains how the two insurance companies will share the loss.
A) co-insurance clause
B) personal property floater (PPF)
C) right of subrogation
D) other-insurance clause
E) principle of indemnity

Question

Quizplus · Accepted Answer

The other-insurance clause in an insurance policy specifies how the loss will be shared if more than one policy covers the same property. This clause is designed to prevent the insured from profiting from the insurance and ensures that the loss is equitably distributed among the insurers.

If You Have Two Insurance Policies on the Same Property