Where the assured is ㉠double-insured by over insurance-

(a) The assured, unless the policy otherwise provides, may claim payment from the insurers in such order as he may think fit, provided that he ㉡is entitled to receive any sum in excess of the indemnity allowed by this Act;

(b) Where the policy under which the assured claims is ㉢a valued policy, the assured must give credit as against the valuation for any sum received by him under any other policy without regard to ㉣the actual value of the subject-matter insured;