You can have multiple homes and a separate policy for each home; or, you can have one home and a separate policy covering distinct lines of risk.
The first answer is self evident. The second answer needs a bit of clarification. The basic principal of indemnity means that you will be restored to your original position before the accident. This means you are not supposed to profit from an accident when an insurance company indemnifies you. So, you will not be able to profit by having multiple policies on one home for the same coverage. This type of fraud is specifically dealt with in the terms of the policy. However, you could theoretically get physical damage coverage through Insurance Company A and liability/medical payment protection through Insurance Coverage B. This would create a multiple policy coverage for one home.
.JPG){kind=avatar}
The first answer is self evident. The second answer needs a bit of clarification. The basic principal of indemnity means that you will be restored to your original position before the accident. This means you are not supposed to profit from an accident when an insurance company indemnifies you. So, you will not be able to profit by having multiple policies on one home for the same coverage. This type of fraud is specifically dealt with in the terms of the policy. However, you could theoretically get physical damage coverage through Insurance Company A and liability/medical payment protection through Insurance Coverage B. This would create a multiple policy coverage for one home.
I hope this helps.