Can you collect from two different insurance companies?
July 17, 2010 - 3:07 am
I had some expensive equipment stolen from my office. I claimed the loss on my homeowners insurance and collected from that. My office also has insurance that covers this type of loss and I was wondering if I could also collect from that without committing any type of insurance fraud for collecting twice on the same loss. Thanks!
No, that’s double dipping, and is illegal.
July 17th, 2010 at 8:17 am
You cannot claim both unless either of the policies states that they pay "in addition to" other insurance. This is not common.
However, if your insurance company did not pay you the full amount for any reason, or if you had to pay a deductible you may be able to collect the remainder and/or deductible from the other insurance company.
Hope that helps!
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July 17th, 2010 at 8:38 am
I don’t think you can collect from both. It sounds like insurance fraud to me if you do.
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July 17th, 2010 at 9:11 am
that is called insurance fraud and you will end up in jailnext to Bubba being his close buddy.
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July 17th, 2010 at 9:50 am
nope, sorry.
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Agent
July 17th, 2010 at 10:23 am
No, that’s double dipping, and is illegal.
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agent, 21+ years