Same house · Two contracts are not two checks
You can have more than one policy touching a house. You generally cannot collect twice for the same damaged property. The other-insurance clause decides how the companies share a covered loss. This page will not invent that formula.
A homeowners policy and a flood policy are two contracts on purpose. Flood is not a homeowners peril, so the second policy is the only one that pays rising water. A landlord dwelling policy and the tenant’s renters policy are also two contracts, because they insure different interests. The building is the owner’s. The contents and the tenant’s liability are the tenant’s. An umbrella is excess liability. It is not a second dwelling policy, and it does not pay until the underlying limit is used up. Two homeowners policies on the same owner and the same building are different. Each form usually has an other-insurance clause. It can share the loss or treat one policy as excess. It does not let you profit. Read both forms. Do not assume a 50/50 split.
The dwelling contract: Texas homeowners. The policy that is supposed to be separate: flood. What the lender’s nickname means: hazard insurance. The bill that is not a repair: mortgage insurance. Whether the state requires any of this: homeowners is not compulsory.
