In the world of finance, it's important to understand the concept of "primary insurance." This refers to the insurance policy that takes precedence over any others when it comes to covering a loss. This is especially important in situations where multiple policies may provide coverage for the same loss. The primary insurance policy will be the first to pay out, and any remaining costs may be covered by secondary policies. It's crucial to carefully review your insurance policies to determine which is considered primary in different scenarios. This knowledge can save you from unexpected financial setbacks in the future.
