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underinsurance

[uhn-der-in-shoo r-uh ns, -shur-] /ˈʌn dər ɪnˌʃʊər əns, -ˌʃɜr-/
noun
1.
insurance purchased against damage or loss of property in an amount less than its true value, sometimes bought intentionally by the insured with full knowledge of the risk.
Origin
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples from the web for underinsurance
  • No underinsurance investigation was conducted to determine the reason for the underinsurance situation.
  • Allegations of bad faith, and other demands for extra contractual payments, including underinsurance.
  • Little evidence exists about how successful the current tax treatment is in reducing underinsurance.
  • The following discussion on these approaches is limited to underinsurance.
  • The question is said to turn on the basic approach taken in the jurisdiction toward underinsurance provisions.

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