Is this allowed or is this considered insurance fraud?

  • by Sally
  • Oct 28,2018
  • 11 answers

I lost my wedding ring and engagement ring. We are probably going to go thru house insurance for it, however, recently I found out that 1 of the rings is cover under a theft replacement plan with the jewelry store we bought it from. Can I still go thru my insurance and get the amount they give me for the 2 rings even though the one ring is covered?
Is this considered fraud? My insurance wont pay for the total cost of both rings only a certain amount so this would help if i could use both.. i just dont know if its allowed or not. any advice would be appreciated.


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Insurance Answers (11)

shainock 2 months ago

it would be fraud .

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Casey Y 2 months ago

Trying to claim the same thing through two different insurance policies...did you really need to ask?

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David 14 2 months ago

Already asked.

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mbrcatz 2 months ago

As long as you disclose the double coverage, it is not fraud.

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curtisports2 2 months ago

You are allowed to collect on two policies as long as there is no overlap. If each policy will cover 50%, or each will pay a different percentage as long as the total doesn't exceed 100%, that's allowable. However, you need to make each company aware of the partial coverage you have with the other, so they can decide to what extent they will pay. It's unusual with homeowner's claims but it's common with medical insurance. It's known as 'coordination of benefits'. Failure to inform so that you collect more than the value of the item is fraud.

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Happy Gramps 2 months ago

since the rings were not stolen, you cannot claim on the theft policy

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Flatulent Tea Bag Face 2 months ago

Don't do that, yes it would be fraud and they are ripped off so much they even have voice analysers on the phone, then they'll take a picture of you with the ring on or something. They really go to extreme lengths.

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Sally 2 months ago

it is covered under theft policy even though it was lost. They are doing this for me this one time.

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babyboomer1001 2 months ago

Yes, it is fraud. You can't double dip.

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Judy 2 months ago

you can't double-dip

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real estate guy 2 months ago

if you double collect, it's FRAUD. And there are central databases that insurance companies use for things just like this.

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