underinsurance

underinsurance
underinsured un‧der‧in‧sured [ˌʌndərɪnˈʆʊəd◂ ǁ -ˈʆʊrd◂] also under-insured adjective INSURANCE
1. if a person is underinsured, the value of the health care for which they are insured is less than they need:

• We must focus on ensuring that low-income, underinsured residents can get decent health care.

2. if property or its owners are underinsured and the property is stolen, damaged etc, the owners will receive less from the insurance company than the property is worth:

• With our revaluation scheme, providing you were not underinsured to start with, you need no longer worry about becoming underinsured as a result of inflation.

— underinsurance noun [uncountable] :

• In the event of a serious loss considerable hardship can be caused by underinsurance.

* * *

underinsured UK US /ˌʌndərɪnˈʃɔːd/ adjective INSURANCE
► if a person or organization is underinsured, they do not have a high enough level of insurance: »

The main reason for people being underinsured is because they do not realise the true value of their property.

► if something is underinsured, it is insured for less than it is worth: »

Many homes are still under-insured for contents.

underinsurance noun [U]
► »

The problem of under-insurance is particularly acute for owners of listed property.


Financial and business terms. 2012.

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Look at other dictionaries:

  • underinsurance — un·der·in·sur·ance /ˌən dər in shu̇r əns/ n 1: insufficient insurance 2: insurance coverage protecting usu. against uninsured or underinsured motorists by compensating the insured if the tortfeasor s liability policy limits fall short of the… …   Law dictionary

  • Underinsurance — Inadequate insurance coverage by the holder of a policy. In the event of a claim, underinsurance may result in economic losses to the policy holder, since the claim would exceed the maximum amount that can be paid out by the insurance policy.… …   Investment dictionary

  • underinsurance — /un deuhr in shoor euhns, sherr /, n. 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. [UNDER + INSURANCE] * * * …   Universalium

  • underinsurance — noun Inadequate insurance. See Also: underinsure …   Wiktionary

  • underinsurance — n. inadequate insurance, insurance not adequate to recover the full value of what is insured …   English contemporary dictionary

  • underinsurance — | ̷ ̷ ̷ ̷ ̷ ̷| ̷ ̷ ̷ ̷ noun Etymology: under (III) + insurance : insurance in an amount insufficient to cover the possible loss or to satisfy the requirements of a coinsurance clause * * * /un deuhr in shoor euhns, sherr /, n. insurance purchased …   Useful english dictionary

  • Condition of average — Illustration of the partial payout of Sum Insured against probability of occurrence Condition of average (also called underinsurance[1] in the U.S., or principal of average[2], su …   Wikipedia

  • underinsured — un‧der‧in‧sured [ˌʌndərɪnˈʆʊəd◂ ǁ ˈʆʊrd◂] also under insured adjective INSURANCE 1. if a person is underinsured, the value of the health care for which they are insured is less than they need: • We must focus on ensuring that low income,… …   Financial and business terms

  • Health care in the United States — ] Current estimates put U.S. health care spending at approximately 15.2% of GDP, second only to the tiny Marshall Islands among all United Nations member nations. The health share of GDP is expected to continue its historical upward trend,… …   Wikipedia

  • United States — This article is about the United States of America. For other uses of terms redirecting here, see US (disambiguation), USA (disambiguation), and United States (disambiguation). United States of America …   Wikipedia

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