Arguments Against Double Insurance
It is often argued by insured that they have right to have money from both the …show more content…
If these things are not checked and kept in control then it will run insurance companies out of business, which will consequence in raising the premium rates by insurance company.
Going to critics of double insurance – such liberty to take out as many policies as one want against same interest rather than the subject require seems worthless as it does not in any way increase the amount more than that covered under the policies . Beside this it lead to conflict between assured and insurer when time of claim comes which also causes delay in payment. so it cannot be said that double insurance is about making profit by having dual insurance of same subject because there are law laid to guide on matter if one try to make benefit out of it consequence will always be