What does Other Insurance mean? Read on to discover the definition & meaning of the term Other Insurance - to help you better understand the language used in insurance policies.
Other insurance refers to situations where more than one insurer covers the same asset or assets. Most types of insurance, except life insurance have "other insurance clauses." It is common for other insurance clause to state that where there is other insurance, the insurers will each pay out a portion of the claim.
We hope the you have a better understanding of the meaning of Other Insurance.