Outrageously Funny Word Dictionary :: Overinsured

👉 In insurance, "over-insurance" refers to a situation where an insured party's claim exceeds their insurance coverage limits. In other words, if they have enough coverage under their policy, but still incur costs exceeding what is covered in their policy, they are considered over-insured. This can lead to increased premiums or deductibles for the insured party, as well as potential legal consequences.

overinsured