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What is the term for this? Jake has two insurance policies on his house. They are issued by different companies, but they are otherwise identical.

This question is part of Property and Casualty Insurance License quiz
Asked by Fsspc, Last updated: Mar 23, 2020

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fsspc

Fsspc

Answered Aug 28, 2018

Concurrent coverage

C is correct. Concurrent coverage refers to two policies that offer the same coverage against the same perils. Concurrent causation is when two perils contribute to the same loss. Having concurrent coverage is not fraudulent. Double indemnity is a provision of life insurance policies that pays an extra benefit if death results from an accident rather than an illness.
 

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