DOUBLE INSURANCE

DOUBLE INSURANCE, contracts. Where the insured makes, two insurances on the 
same risk, and the same interest. 12 Mass. 214. It differs from re-insurance 
in this, that it is made by the insured, with a view of receiving a double 
satisfaction in case of loss; whereas a re-insurance is made by a former 
insurer, his executors or assigns, to protect himself and his estate from a 
risk to which they were liable by the first insurance. The two policies are 
considered as making but one insurance. They are good to the extent of the 
value of the effects put in risk; but the insured shall not be permitted to 
recover a double satisfaction. He can sue the underwriters on both the 
policies, but he can only recover the real amount of his loss, to which all 
the underwriters on both shall contribute in proportion to their several 
subscriptions. Marsh. Ins. B. 1, c. 4, s. 4; 5 S. & R. 473; 4 Dall. 348; 1 
Yeates, 161; 9 S. & R. 103; 1 Wash . C. C. Rep. 419; 2 Wash. C. C. Rep. 186; 
2 Mason, 476.