Question

26. If an insured holds more than one policy on a property, and the only difference is in the coverage amount or coverage period, this is called

(Choose from the following options)
1. Concurrent Policy Coverage.
2. Side-by-Side Coverage.
3. Coinsurance.
4. Co-Coverage Policy.

Answer 1

Concurrent Policy Coverage

Step-by-step explanation:

When an insured holds more than one policy on a property, and the only difference is in the coverage amount or coverage period, it is called Concurrent Policy Coverage. This means that the insured has multiple policies that provide overlapping coverage for the same property with different coverage amounts or periods.