by purplerain911 » Wed Feb 06, 2008 01:56 pm
for example, if a motor vehicle is insured in two countries, with two companies, under two policies; one policy is worldwide and the other is local, in case of a claim can the insured receive two settlements from two companies in two countries?
Posted: Wed Feb 06, 2008 02:09 pm Post Subject:
As for US policy no, they all have exclusions re:''if you have other insurance'' with the possible exception of states that allow double dipping on med pay etc...
I don't however, understand why an individually would want to do this? I you are going into another country (let's say mexico) and will be there for an extended period your US policy won't cover you, you will need a mexican policy, why would you not cancel the US policy and they start it up again when you return? Seems like a lot of money for nothing...I don't know about the other countrys if they would allow this, if you had an accident in the US that policy would cover you...I really don't understand why/how this question comes up?
Posted: Thu Feb 07, 2008 06:55 am Post Subject: see if you could empathize
Hi, I'd agree with Lori at all she said over here. There is no point in paying consistently towards a policy which won't cover you for an extended period. Not only in the US, I believe it is the same for even the developing the countries- mostly there are points within the policy that specifically talks of the exclusions as to the application of the coverage. Again, I see that you'd opt for a travellers policy prior to your trip. So, there is no point in worrying about it for a longer period of time.
classy_May
Posted: Thu Feb 07, 2008 06:57 am Post Subject:
Hey, why should you look to collect under both the policies for single accident? At many states its simply illegal.
The local policy will cover you for accidents in your state or may across the country. And definitely its coverages will lapse once you leave the geographical territory. The international policy (normally the Travelers insurance) will come into effect form there on. If you suffers form any injuries or damages outside the national boundary the international policy will cover your losses. I guess you need to refer to your policy documents for further clarifications or otherwise need to elaborate your question with some more data. So long buddy :)
Posted: Thu Feb 07, 2008 07:14 am Post Subject: simply putting it my way!
Yupp!
I you are going into another country (let's say mexico) and will be there for an extended period your US policy won't cover you, you will need a mexican policy, why would you not cancel the US policy and they start it up again when you return?
I do see only one reason why most carriers won't consider you for covering for an extended period, simply because different lands have different regulations & necessities to be fulfilled for such coverages. Also, if they are gonna pay you another fold of benefits, once you've already got your claims met through another carrier, then they would simply be wasting their financial resources for covered opportunities (which would be considered a potential loss for them). Regards, CaptainJones
Posted: Fri Feb 08, 2008 06:58 pm Post Subject:
You can't be compensated twice for one incident. I'm not sure about having two insurance companies, but I know that claiming under both at the same time would be fraud, as one would cover the expenses incurred by an accident.
If it was that simple, I'd rake in a fortune with Oops Insurance.
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