👉 In insurance, "over-insurance" refers to a situation where an insurer undertakes more risk than is actually necessary or appropriate for the intended purpose of coverage. This means that the insurer has exceeded its limits under the policy and has incurred costs exceeding what it was originally insured against. For example, if an individual's car insurance company is over-insured by $10,000, this can lead to significant financial losses for the individual due to the additional cost of coverage. In such
