Is it possible to actually profit from a disaster? Some homeowners might think so, by merely taking out two homeowners insurance policies on their home from two different companies, then collecting double the benefit when a disaster occurs. As it turns out, this probably isn’t a good idea, and it certainly won’t help you cash in on a disaster.

In Albany, New York, it is perfectly legal to have two homeowners insurance policies–that’s not the problem. The problem is that you are only going to get paid for whatever a single claim is worth, not both claims. If you have two insurance policies and you make a claim with both, you’ll get the exact same amount of money you would get from a single claim, and the insurance companies get to work out how much of that claim each one pays. In the meantime, you get the fun and excitement of paying two premiums to get the exact same coverage you would get from one. Not such a great scheme, is it?

Knowing that you really only benefit from having one homeowners insurance policy, you should really try to choose the best one possible. The best way to do that is with an independent agent who can get you comparative quotes on homeowners insurance. If you live in Schenectady, Saratoga Springs, Albany or elsewhere in New York, we here at NY Twin Bridges Insurance Agency are the independent agents who can do just that. You can use our website to get live comparative quotes from multiple insurers so that you can make the right decision and get the best possible coverage for the best possible price.