Two Homeowners Policies

[LaDora]

I live in Iowa. Is there any law that states that you may NOT have two homeowner's insurance policies at the same time? If you can, can you claim on both policies? Just wondering

 

[ALawyer]

There's no law in states I am aware of (I am NOT an IA lawyer) but you can NOT recover more than the value of the loss as it is would be an open invitation to fraud.

 

[Donna32669]

Two Homeowner Policies

No, you can have as many policies as you want, however that
does not mean you will collect on them in duplicate. Look
in the Policy Provisions section on your policy. Most
insurance contracts contain a provision that is worded
"if other insurance exists".....this is intended to prevent
duplication of paymemts bu coordinating the policies.
You may want to just cancel one and obtain a refund. This
should be simple by furnishing a copy of the declaration or
other proof of insurance with the cancellation request. You
would probably cancel the 2nd one that you took out and
request a refund. If you obtained them on the same date just
pick one. However, if the same agent sold you two, and you
can not collect, I think a call to your State commissioner
is in order since that is not ethical. Good Luck.