General insurance Is it feasible to own multiple insurance policy?

[sincerem]

I'm just thinking about getting two or more insurance premium contract with different insurance company. I don't know if such kind of idea is feasible enough if I decide to take it up, with different insurance companies on my mind.

And the multiple insurance policy will circle round auto insurance, health, property, and home insurance etc.

I've never seen any one engaging on such before, I only hear about people choosing one insurance premium policy to invest in, and wait for its benefits and xD.

I'm trying to clear my imagination, if its something possible for one to enroll into, and expect multiple benefits upfront for all the options of insurance policy chosen.

Do you think its possible to enroll into multiple insurance policy with different insurance companies?

 

[Mika]

I have two insurance policies, one life insurance and other the two-wheeler insurance. I pay just about $400 as a premium for my policies. This is a lot of money in my home country. IN the last few years, I have been often thinking about getting another policy, but I have not been able to buy anaother policy.

 

[sincerem]

I have two insurance policies, one life insurance and other the two-wheeler insurance. I pay just about $400 as a premium for my policies. This is a lot of money in my home country. IN the last few years, I have been often thinking about getting another policy, but I have not been able to buy anaother policy.

Hmm, you're simply sending in excess for something you aren't going to reap while you're still alive. Insuring for your life at an early age is simply an investment you'll have to die and your children or relation who witness your death takes in control I can't invest in such scheme cos I won't benefit from it directly.

 

[Alexandoy]

From what I know only the life insurance can be in multiple policies. You can even take 2 or more insurance policies from 1 insurance company. The issue is the premium so as long as you pay the premium then you have it all. With car insurance I guess it is limited to 1 insurance policy because have a multiple policy is tantamount to scamming the insurance company.

 

[sincerem]

From what I know only the life insurance can be in multiple policies. You can even take 2 or more insurance policies from 1 insurance company. The issue is the premium so as long as you pay the premium then you have it all. With car insurance I guess it is limited to 1 insurance policy because have a multiple policy is tantamount to scamming the insurance company.

I knew that not all policies have multi choice options. Some will have to contend to once just as you said with car insurance policy. Cos if it goes that way it will be like scamming the insurance company when different policies is set for car insurance policy. Insurance are learned organisation, they always analyse before bringing up policies that will favour both parties.

 

[Setho]

I think that it is allowed to have multiple insurance covers and I believe that it is also of advantage to you provided that they actually cover different aspects of the damage. It will also be wise of you to invest in two different aspects of insurance but I do not think they will allow you to enroll for more than 1 auto insurance in my country.

 

[sincerem]

I think that it is allowed to have multiple insurance covers and I believe that it is also of advantage to you provided that they actually cover different aspects of the damage. It will also be wise of you to invest in two different aspects of insurance but I do not think they will allow you to enroll for more than 1 auto insurance in my country.

I understand that insurance terms and conditions differs from country to country. Their is different terns of use when it comes to policy agreement. But you need to find out and be sure for yourself, if your country only accept single premium policy for auto insurance. I know here in my country you're entitled to own as much as you can provided you meet up with payments.