Question

The policy provision found in property insurance policies that prevents the insured from collecting twice for the same loss is called

A Subrogation.
B Consent to settle loss
C Right of salvage
D Appraisal

Answer 1

Subrogation is the provision in property insurance policies that prevents the insured from collecting twice for the same loss, where insurers can recover costs from the responsible third party.

Step-by-step explanation:

The policy provision in property insurance policies that prevents the insured from collecting twice for the same loss is called Subrogation. Subrogation is a legal right held by insurance companies, allowing them to pursue third parties that caused an insurance loss to the insured.

Subrogation is the provision in property insurance policies that prevents the insured from collecting twice for the same loss, where insurers can recover costs from the responsible third party.

This process helps to limit financial loss for both the insured and the insurer, ensuring that the insured cannot claim reimbursement from both the insurer and the responsible party.