Scroll Top

search-icon
    drop-arrow

    Concurrent Insurance

    What Is Concurrent Insurance?

    Concurrent insurance is the type of insurance which includes more than two insurance policies, which cover for the same risks during the same period of time.

    Concurrent insurance is commonly used when the insured party purchases additional policies on top of the primary policy. These additional policies offer the insured party with extra coverage. Insured parties generally purchase additional policies when they deem the primary policy to be unreliable to cover for the losses caused by a particular event.

    Understanding Concurrent Insurance

    Concurrent insurance policies could be the right choice for those individuals who assume that a specific event could pose a major risk, which may be inadequately covered by a single policy. In such cases, having one or more complementary policies can prove to be a wise course of action for the insured party.

    What Is Concurrent Causation?

    While concurrent insurance refers to holding two insurance policies at the same time, concurrent causation is the type of insurance related to property.

    In the case of concurrent causation, if the damage is caused by more than one cause, where one of the causes is covered, but the other is not, then the loss would be covered.

    For example, if a property is damaged by perils, such as flood and wind, the losses would be covered since it is not possible to exactly determine which of the two perils would have caused the damage.

    Popular Topics

    Latest Articles

    Clear offers taxation & financial solutions to individuals, businesses, organizations & chartered accountants in India. Clear serves 1.5+ Million happy customers, 20000+ CAs & tax experts & 10000+ businesses across India.

    Efiling Income Tax Returns(ITR) is made easy with Clear platform. Just upload your form 16, claim your deductions and get your acknowledgment number online. You can efile income tax return on your income from salary, house property, capital gains, business & profession and income from other sources. Further you can also file TDS returns, generate Form-16, use our Tax Calculator software, claim HRA, check refund status and generate rent receipts for Income Tax Filing.

    CAs, experts and businesses can get GST ready with Clear GST software & certification course. Our GST Software helps CAs, tax experts & business to manage returns & invoices in an easy manner. Our Goods & Services Tax course includes tutorial videos, guides and expert assistance to help you in mastering Goods and Services Tax. Clear can also help you in getting your business registered for Goods & Services Tax Law.

    Save taxes with Clear by investing in tax saving mutual funds (ELSS) online. Our experts suggest the best funds and you can get high returns by investing directly or through SIP. Download Black by ClearTax App to file returns from your mobile phone.

    Cleartax is a product by Defmacro Software Pvt. Ltd.

    Company PolicyTerms of use

    ISO

    ISO 27001

    Data Center

    SSL

    SSL Certified Site

    128-bit encryption