Practice question
Does double insurance necessarily mean the total insurance exceeds the insurable value?
- Yes, the terms always mean exactly the same thing.
- No; multiple qualifying policies can exist without exceeding value.
- Yes, any second policy doubles every property's value.
- Yes, one policy is always cancelled automatically.
- Yes, because insurable interest never matters.
Legal references
- Insurance Code as amended by RA10607, Sections26–48 and95–100: https://lawphil.net/statutes/repacts/ra2013/ra_10607_2013.html
- Malayan Insurance v. Philippines First Insurance, GR184300, July11 2012, main decision: https://lawphil.net/judjuris/juri2012/jul2012/gr_184300_2012.html
Answer this question in flashcards to review your response and continue practicing.