Hari insurers his house against theft for rupees 20 lakh with insurer A and for rupees 10 lakhs with insurer B. He suffers a loss of about 12 lakhs. How much compensation can he claim from both insurers? Give reasons?

Dear student In this case maximum compensation Hari can claim from both the insurers is Rs. 12 lakh because Contribution concept is applicable which says : If an individual buys more than one insurance policy for the same object, then the insurers will contribute in order to compensate insured for the actual amount of loss. Regards