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Simple English definitions for legal terms

overinsurance

Read a random definition: Plain-language law

A quick definition of overinsurance:

Overinsurance: When you have too much insurance for something, like buying too many policies or getting more insurance than the thing is worth. It's like having too many coats when you only need one. It's not necessary and can be a waste of money.

A more thorough explanation:

Definition: Overinsurance refers to having more insurance coverage than the actual value of the item being insured. It can also refer to having unnecessary or redundant insurance policies.

Example 1: John owns a car worth $10,000 and has three different insurance policies that cover the car. The total coverage he has is $30,000. This is an example of overinsurance because the coverage exceeds the value of the car.

Example 2: Mary has health insurance through her employer and also purchased a private health insurance policy. Both policies cover the same medical expenses. This is an example of overinsurance because Mary has duplicated coverage that is not needed.

These examples illustrate how overinsurance can occur when someone has more insurance coverage than necessary or when they have duplicated coverage. Overinsurance can lead to higher premiums and unnecessary expenses.

overinclusive | overissue

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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