This is a situation where an insured takes out more than one policy on the same subject matter and risk with different insurers but where the total sums insured exceeds the value of the subject matter.
The subject matter is said to be double insured by over insurance. If a subject matter is double insured, it is ordinarily underinsured.
The only advantage of this type of insurance is that if one of the insurers is insolvent when risk attaches the insured can enforce his claim against the solvent insurer.
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