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LSDefine

Simple English definitions for legal terms

overinsurance

Read a random definition: Deep Rock doctrine

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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awman i was hopign to come home to a ucla wave
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shaquilleoatmeal
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MRS CLITTERUS
JumpySubsequentDolphin
17:17
I’ve barely gotten through chromakopia I can’t deal with another album drop rn
JumpySubsequentDolphin
17:17
this is so stressful
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JumpySubsequentDolphin
17:18
idk splitty :(
if there's no gtown today that would be so cruel
surely gtown 12 minutes from now
I'm a chromokopia fan, but I don't like Tyler outside of that album
theres the spirit!!
JumpySubsequentDolphin
17:18
@SplitterusClitterus: did you like cmiygl? that’s one of my all time fave albums
Kind of a controversial take. I like experimental albums a lot
babycat
17:19
liking chromakopia and not Tyler's other stuff is crazy to me
JumpySubsequentDolphin
17:19
perhaps im biased bc i saw him live when he performed cmiygl for the first time
i think it is a controverisal take and i usually do too, i also think im giving an opinion too early cuz i habvent finished it at all
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JumpySubsequentDolphin
17:21
i like noid
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JumpySubsequentDolphin
17:22
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JumpySubsequentDolphin
17:22
and i LOVE boogie
JumpySubsequentDolphin
17:23
like i would do anything for one chance w that man but better off alone and me vs myself were both not good
He's never really been my style tbh
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