Here's why:
* Fraudulent Claims: If you were to file a claim with both insurance companies, you'd be committing insurance fraud, which is a serious crime. This is because you'd be claiming losses twice for the same incident.
* Overlapping Coverage: Your insurance companies will likely deny payment from one or both policies if the other is discovered. They might investigate and potentially cancel your policies. They'll definitely refuse to pay out twice.
* Wasted Premiums: You're paying twice for the same coverage. This means double the premiums for no additional benefit.
* Policy Voidance: The insurance companies might void your policies upon discovering the double coverage if it's determined you deliberately concealed it.
Exceptions (Extremely Rare):
There might be extremely niche situations where this could be unintentionally the case. For example:
* Inherited policy: You might temporarily be covered by a policy inherited from a previous owner until it's cancelled. This isn't truly "double insurance" because of the intent.
* Two separate types of policies: You might have one policy for physical damage to your car and another policy specifically covering your liability. But this is a case of *different* types of insurance, not *duplicate* coverage. This is common and perfectly legal.
In short, while not always illegal in the sense that it's not specifically forbidden by law, it's financially irresponsible and could lead to serious legal trouble if you try to defraud the companies. If you're concerned about your insurance coverage, contact your insurer directly to clarify your situation. Don't deliberately have two policies covering the same car and risk significant problems.
