concurrent insurance的意思|示意

Concurrent insurance (also called double insurance) is a type of insurance coverage in which two or more insurance policies provide coverage on the same risk. For example, when a homeowner purchases two homeowners insurance policies from different insurance providers, they both share the same liability.

Concurrent insurance is often used to provide extra coverage and financial protection. This is especially useful when two policies provide similar coverage but with different limits. For example, one policy could provide $500,000 of liability coverage, while the other could provide $1,000,000. In this case, the two policies would jointly provide $1,500,000 of coverage, which provides the insured with extra protection.

It is important to note that concurrent insurance does not increase the overall limit. Instead, it simply ensures that the total coverage from all policies does not fall below the combined limits of the policies. If a claim exceeds the limits of all concurrent policies, the insured will still be responsible for the difference.

If you have questions about concurrent insurance or any other type of insurance, it is advisable to speak to a licensed insurance provider. They can help you determine the best coverage for your needs and help you understand your policy options.