Re: If I have a home insurance policy with two different companies will I be benefited from both?
No.
Home insurance is indemnity basis policy.
The indemnity shall be on the basis of reinstatement value or market value as applicable.
In the event of property insured being damaged by any of the insured perils, the company shall pay for the amount of damage or loss or at its option replace the damage property.
Re: If I have a home insurance policy with two different companies will I be benefited from both?
No.
Home insurance is indemnity basis policy.
The indemnity shall be on the basis of reinstatement value or market value as applicable.
In the event of property insured being damaged by any of the insured perils, the company shall pay for the amount of damage or loss or at its option replace the damage property.
