What does Overlapping Insurance mean? Read on to discover the definition & meaning of the term Overlapping Insurance - to help you better understand the language used in insurance policies.
Overlapping insurance is when a party has multiple insurance policies with the same coverage for the same risk. This can happen when different types of insurance, such as property, liability, and other policies, cover the same peril. In such circumstances, the "other insurance clause" comes into play. This clause dictates which policy would cover the loss.
We hope the you have a better understanding of the meaning of Overlapping Insurance.