I have covered my laptop under my householder’s policy and a separate laptop policy. If my laptop is damaged can I file claim under both the policies?

Susumita Bose, Ranchi

All general insurance contracts are contracts of indemnity, which means that no one can profit out of an insurance contract. This implies that irrespective of the number of policies covering the same asset, the total compensation from all the policies put together cannot exceed the total amount of loss. Cover for the damage to your laptop will depend on under which section of the householder’s policy you have secured the coverage. If the cover is ‘all risks’, your cover- age is similar to the policy that you have taken separately. In case of a loss, you can file a claim under any of the policies giving the particulars of the other policy. The insurers will divide the amount of compensation among themselves in the ratio of the respective sum insured.

olmdesk@outlookindia.com