overinsurance
noun
over·in·sur·ance
ˌō-vər-in-ˈshu̇r-əns
: insurance (as from two or more policies) that exceeds the value of the thing covered
overinsurance may lead to fraud by the insured
broadly
: excessive insurance (as from needlessly duplicative coverage)
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Cite this Entry
“Overinsurance.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/overinsurance. Accessed 26 Nov. 2024.
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