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

The correct term for having multiple identical policies for the same property is "policy overlap." When an insured holds several insurance policies that cover the same risks or damages for the same property, such coverage can lead to confusion during a claim process, as well as potentially inflated premiums.

In the context of insurance, individuals typically purchase additional policies for various reasons—perhaps to increase limits of coverage or to secure coverage from multiple insurance companies. However, having overlapping policies does not necessarily increase the compensation in case of a loss; instead, it may lead to complications regarding how claims are paid and could also violate certain policy conditions.

Stacked coverage typically refers to a feature that allows the insured to combine limits from multiple policies, such as different auto policies under the same household. Current policy coverage is not a recognized term in this context, and concurrent coverage generally refers to two policies covering the same risk but not necessarily being identical in terms of specifics or policy limits.