What is it called when an insured has multiple identical policies for the same property?

The situation where an insured has multiple identical policies covering the same property is referred to as "policy overlap." This term is used to describe instances in which the coverage provided by one policy duplicates that of another, leading to a scenario where the same risks are insured under multiple agreements.

Having policy overlap can raise concerns regarding claims and payouts, as insurers typically will not pay more than the loss amount. Additionally, if a claim were to arise, it could become complicated to determine which policy would respond first or if both would share the liability.

The other terms, while related to insurance coverage dynamics, do not accurately capture the essence of having multiple identical policies for the same property. "Stacked coverage" refers to a situation where policy limits from multiple policies are combined to increase coverage, while "current policy coverage" generally indicates the active and applicable coverage under an existing policy rather than overlapping policies. "Concurrent coverage" deals with having various policies in effect at the same time, but does not specifically imply redundancy as seen in policy overlap.