Concurrent Insurance
Categories: Insurance
An insurance policyholder has two or more policies covering the same exposure, same policy period, and same coverage.
Which means that they have concurrent insurance.
For example: Let’s say that your pal Tom borrows your car when he’s visiting. Tom has his own car insurance to cover his use of your car. And you—by decree of the state—also have car insurance that covers his use of your car.
Two different forms of coverage for Tom using your car. Couldn’t be easier.