insurance advice

[pradeepb123]

What is the name of your state (only U.S. law)?

CA

Hi,

I need some help in understanding insurance workout for my case. There are lot of experts in this forum. Hope to get some help.

I am claiming for a renter’s insurance..(insurance A)

My claim is say z = w(1st item) + x(2nd item) + y(3rd item)

My deductible is d = w(value of first item).

I have a “purchase protection plan”(insurance B) from one of the credit cards, which can reimburse me for “w”.

“purchase protection plan” has this in their “terms and conditions”

======
If other insurance is available to you which provides the same or similar coverage as that provided by this plan , this plan becomes excess and we will
Pay only that portion of the covered incident benefit which is not reimbursed by other insurance up to our limits, as provided under the description of benefits section
======

I have filed claim with insurance A, can I recover my deductible(w) by filing a claim for item “w” with insurance B, so that I am fully reimbursed?

Thanks for your help
-Pradeep.

 

[JustAPal00]

No you can not. Whether it's plan A or Z, you have to meet your deductible before the first plan pays out!

 

[JustAPal00]

OK, after reading your question over a couple times, I think I understand what you're asking. You bought a W-allet for $100, X-erox machine for $500, and a Y-ard stick for $25. All three were damaged in a fire. Your deductible is $100. You used a credit card for The wallet that offers damage protection. If you claim the wallet on the renters claim after recieving the damage protection, you would be committing insurance fraud. If you claim the wallet on your renters insurance, then turn in the claim to the damage protection company, they will cover any amount in excess of your policy limits. The deductible is considered part of the covered loss. Where this policy would come into play is if you had purchased a W-ater softener for $2500, but had a policy limit of $1500 for water softeners. Then the damage protection would kick in the additional $1000. They would not however cover the $100 deductible.

 

[pradeepb123]

OK, after reading your question over a couple times, I think I understand what you're asking. You bought a W-allet for $100, X-erox machine for $500, and a Y-ard stick for $25. All three were damaged in a fire. Your deductible is $100. You used a credit card for The wallet that offers damage protection. If you claim the wallet on the renters claim after recieving the damage protection, you would be committing insurance fraud. If you claim the wallet on your renters insurance, then turn in the claim to the damage protection company, they will cover any amount in excess of your policy limits. The deductible is considered part of the covered loss. Where this policy would come into play is if you had purchased a W-ater softener for $2500, but had a policy limit of $1500 for water softeners. Then the damage protection would kick in the additional $1000. They would not however cover the $100 deductible.

Thanks for your help and expert advise.
-Pradeep.