Washington State Insurance Practice Exam

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What does other insurance refer to?

  1. Insurance covering special out of pocket expenses

  2. Individuals or businesses protected by the policy

  3. Other valid insurance written on the same risk

  4. One insurance policy paying first up to its limits in a covered loss

The correct answer is: Other valid insurance written on the same risk

Other insurance refers to additional valid insurance policies written on the same risk. When a situation involves multiple insurance policies covering the same risk, the concept of other insurance comes into play. In such cases, these policies work together to provide coverage, with each policy responsible for a portion of the claim based on their terms and conditions. This helps prevent over-insuring a risk and ensures a fair and proportionate distribution of the coverage among the different policies involved.

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