What is duplicate coverage and why should i avoid it

Duplicate coverage is having more than one insurance policy (from different companies) that covers an event, e.g. to have two auto insurance policies and file a claim on both of them regarding the same accident.

Explanation:

If you are paying two distinct policies, you are just paying for redundant coverage. Only one insurance company will pay for a claim not both of them, since you are not allowed to make claims with two insurance companies at the same time.

Duplicate coverage means to taking more than one insurance policies from two different companies. It can be avoided because Cash value insurance is normally for life and is more expensive than the other.

Duplicate coverage occurs when a person holds more than one insurance from the two different companies. It simply means that a person taking the health insurance with the life insurance as well.

It can be avoided because the duplicate coverage becomes More extensive due to the double payment of insurance policies.

Therefore, duplicate coverage should be avoided.

Learn more about the duplicate coverage, refer to:

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