overinsurance

noun
over·​in·​sur·​ance | \ ˌō-vər-in-ˈshu̇r-əns \

Legal Definition of overinsurance

: 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 10 Aug. 2020.

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