Does anyone have any experience of making a claim when a risk is covered by more than one insurance policy? I'm thinking of the sort of situation where something gets lost or damaged while on holiday in foreign parts, and where you have a holiday insurance policy *and* "all risks" cover provided by your household insurance.
Most policies exclude losses covered by other policies or - at any rate
- require the compensation to be split between the two insurers. Most
policies also have excesses. How does this work in practice? If the
claim is jointly settled by two insurers, and each deducts the policy
excess, you could potentially end up *worse* off than you would be if
you only had one policy.
So what actually happens under these circumstances? Anyone been there?
- posted 4 years ago