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If you are already insured with one car insurance can you be insured with another insurance with out it affecting your first insurance?
Wiki User
∙ 14y ago
This question is not specific enough, but from my interpretation, the person posing this question is asking if multiple policies can be taken out on the same vehicle at the same time. In Ontario, this would NOT be allowed as this would void all policies that have the described vehicle listed. Insurance is to indemnify the insured (who has insurable interest in the vehicle) and not allow for profit of the insured. Indemnification means to put the insured(s) and any innocent third parties in a position (financially and health wise, if possible) back to moments before the loss.
If 2 or more policies exist on a vehicle, and the owner/operator is involved in an accident, then neither policy would respond, since the insured has tried to profit from his/her misfortune. Even if the claim was legit (which would be questionable since there are more than one policy) as a prudent measure all companies insuring the vehicle involved would deny the claim based on misrepresentation.
On the application of insurance for automobile (OAF 1) would ask the applicant if he/she has already an existing policy for the vehicle described. If the answer is yes the underwriter would then refuse the application as the vehicle has a policy already existing. The only time an application with an existing policy would be accepted is if the previous policy was expiring and a new policy is required, not with the same insurer.
I hope this answers the person asking this question.
Wiki User
∙ 14y ago
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