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It exists where the same person is insured by several insurers separately in respect to same subject and interest. It is not prohibited by law but it may be prohibited by an “other insurance clause”. When there is double insurance and over insurance results, the insured can claim in case of loss only up to the agreed valuation or up to the full insurable value from any, some or all insurers, without prejudice to the insurers ratably apportioning the payments. Insured can also recover before or after the loss, from both insurers the excess premium he has paid.
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