Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

multiple insurance policies

including wills and probate
Gilesyb27
Posts: 40
Joined: November 10th, 2016, 8:58 am
Has thanked: 3 times
Been thanked: 14 times

multiple insurance policies

#470231

Postby Gilesyb27 » January 4th, 2022, 4:41 pm

Hi folks, long story short:
I booked a family trip to see Santa in finland in Dec 2021
I got covid 3d before and had to cancel, no refund possible
I had insured my family for the trip as it was expensive and I wanted to cover the covid risk

The insurer is now querying if there are any other policies in place that they could share the risk with, and (genuinely coincidentally) I have received a renewal notification for an annual policy that I took out precovid (jan 2020, presumably for a ski trip I went on then) that they seem to have renewed in Jan 2021. I have no recollection of even having this policy or it being renewed in 2021, but there you go.

So, I now cant deny this policy exists (but was unaware of it at the time I took out the single trip policy and subsequently claimed). Can the single trip insurer really deny half the claim as the responsibility of the annual policy? I seem to recall I cant make a profit, so dont expect to be refunded by both policies but surely if I was insured with the single trip policy they should just pay out?

I'm sure the answer is "read the contract" but just wondered if anyone had any insight into the broad brush legal postion?

Thanks.

didds
Lemon Half
Posts: 5244
Joined: November 4th, 2016, 12:04 pm
Has thanked: 3244 times
Been thanked: 1018 times

Re: multiple insurance policies

#470234

Postby didds » January 4th, 2022, 4:45 pm

IANAL

But when I was a trainee accountant back in the 1980s this is exactly what was ex[plained to me (cant recall what context i was told it however now).

ie 2 policies = 50% claim each

didds

Dod101
The full Lemon
Posts: 16629
Joined: October 10th, 2017, 11:33 am
Has thanked: 4343 times
Been thanked: 7534 times

Re: multiple insurance policies

#470244

Postby Dod101 » January 4th, 2022, 5:24 pm

Indeed, assuming both policies actually cover the same risk then they pay out in proportion. It seems likely that this will be on a 50/50 basis. You have nothing to complain about as you will get100% compensation by the sound of it.

Dod

Howard
Lemon Quarter
Posts: 2178
Joined: November 4th, 2016, 8:26 pm
Has thanked: 885 times
Been thanked: 1017 times

Re: multiple insurance policies

#470250

Postby Howard » January 4th, 2022, 5:44 pm

If it were me in your situation, I would inform both insurers. From what you suggest, they will probably share the cost 50:50. They will probably both be pleased that their payment is halved. Assuming you are covered by both policies you will hopefully get 100% of your claim, less any excess.

A friendly (virtually identical) email to both is probably worth sending so you have everything in writing.

But, as you say, the companies will be guided by the two contracts you have agreed to by paying the premiums.

Good luck - hope you get 100%.

regards

Howard

orangepekoe
Posts: 33
Joined: November 4th, 2016, 8:36 pm
Has thanked: 1975 times
Been thanked: 12 times

Re: multiple insurance policies

#470264

Postby orangepekoe » January 4th, 2022, 6:35 pm

If both policies have an excess, do you pay both excesses in full?

mutantpoodle
Lemon Quarter
Posts: 1007
Joined: November 7th, 2016, 4:21 pm
Has thanked: 509 times
Been thanked: 122 times

Re: multiple insurance policies

#470375

Postby mutantpoodle » January 5th, 2022, 8:43 am

all above suggest a 50/50 split
but all are assuming that your ski trip was also a 'family' trip

your wording suggests...'a ski trip the I took' perhaps it was not family??

that would alter insurers split of payouts

tsr2
2 Lemon pips
Posts: 227
Joined: June 20th, 2017, 8:30 am
Has thanked: 294 times
Been thanked: 62 times

Re: multiple insurance policies

#470624

Postby tsr2 » January 5th, 2022, 8:52 pm

My understanding is that the insurer you have already raised the claim with should pay in full, but may reclaim a share from your other insurer(s).
IANAL
YMMV
DYOR
YOLO
SPQR


Return to “Legal Issues (Practical)”

Who is online

Users browsing this forum: No registered users and 7 guests