Double insurance?

I took out two different insurance policies on my mobile phone about a year ago. (Long story....) Will "they" find out if I claim my broken phone from both insurance companies? No need to go legal on me, cause that's not the question!

Whilst it is ok for you to, if you have an insurable interest in a piece of property and the point of doing so is not fraudulent, take out as many policies on one item as you wish, you cannot double-up your recovery of the value of an item, even if you have paid premiums for both (and the insurers may keep the premiums paid, even if you do not ask them to pay as they have still run the risk that they might have had to indemnify your loss).

You are only allowed to recover the loss of value of the phone (and no more), although you may elect which company to take the insurance from.

Insurers nowadays share information. If you claim on both policies, they will find out and will not pay out. Worse is that they will record that you have acted in that way, which will affect your payable premiums on future insurance policies (they will increase).

Basically, don't bother trying to recover more than the value of the phone. Accept that you have lost any premiums paid to the insurers that will not pay out, as you will be foud out, and the increase in premiums to all your other insurance (house, car etc) will compound your loss.

Both companies will want you to send in the phone to them. So it doesn't sound like you'll be able to pull it off.

Double insurance does not mean that in case of claim you will benefit twice the amount claimed. When there is double insurance, claim is settled on contributory basis, i.e. both insurance companies will contribute partly to arrive at the amount payable.

Its called double indemnity , and yes Insurance companies share information, You stand a good chance of being caught, and prosecuted. Is it worth it for a few quid?

I have no clue but try it and find out, let me know what happens

simply - yes

they share information, probably already know its double insured so you might well get them each referring you to the other insurance and you get - zip

In property insurance, the insurer will not pay double payment, and in your case you will be considered as moral hazard. Think ethically.

Well, the problem is, you'll have to send in the broken phone to both companies . . . and they'll check the serial number.

But if you could clone the phone, they probably won't find out.

I wouldent have thought so as long as you leave a while in between each claim. and if they are with different companies it is unlikely you will get caught.

I know you didn't want the legal jargon, but you might like what you are about to read. Claiming (I.E Royalties Gold Account, Premier accounts etc) and the insurance provided by the network provider such as Orange, O2, T-Mobile etc is NOT illegal.You pay premiums to Both.. Even if you work for the bank, the FREE cover is still part of the benefits package that they used to entice you to join said company. You may pay Â£12.95 to your bank and Â£6.00 to Orange Care EVERY month. So if you lose your phone or its broken. AS LONG AS... as long as you don't specifically mention or you are not specifically asked about "whether the product is covered elsewhere".. So if they ask you say- yes it is covered elsewhere, DON'T LIE its immoral. If they don't ask that question then you have told no lies. If you have told no lies you have not misrepresented any facts or the truth. If you have not misrepresented the truth then you have not "dishonestly had the intention to permanently deprive another of his or her property". IF you have not dishonestly deprived then you have not been fraudulent thus you have not committed an offence. Your legal compass is still facing north. But what about your moral compass. Also there is an idiot who has mentioned double indemnity who I dare say, quite frankly, does not know his head from his arse (lol no offence) Double indemnity is associated with Life Insurance, and even though your Iphone may be your entire life (some of you may even shiver at the thought of your Iphone being ill-treated or lost), it still does not apply. On a final note I would like to say sorry for accusing somebody I have not met of being an idiot, even though, he most probably is. Secondly unlike the name suggests, I am not a licensed lawyer. I am a 24 year old Business Management Student at Huddersfield University. I was however a Law Student and studied contract law in depth, but quit it because I didn't like the field for various reasons one of them being the cheeky s*** (who is trying to double the fortune on his misfortune of losing his phone) and defending people on formalities and technicalities and lying to the court just because I am on the opposing side of the prosecution would just be annoying. As a religious muslim man I must say, the law may not always catch you. But the Mighty Lord is always watching and mark my words carefully, You WILL repay the amount of wrongful insurance you claimed, God may take it from you in this life (for example the clutch burns out on your car) or in the next life, where you will stand before your lord and each body part will come alive and speak in favour or against your deeds in this world (in favour for your good deeds such as helping an old lady across the street and bad deeds such as ripping off insurance companies for profit, what I call an opportunist fraudster. Sorry to preach but its my duty to mention at least once. this was it. May the Law of this world and the mercy of our Mighty God protect us. Amen Yours Truly Mr S.R

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