verb
- to insure for more than the actual value or beyond what is necessary
Usage: insurance/finance
Examples
- Many homeowners overinsure their property out of fear of being underprotected.
- The company decided not to overinsure its fleet of delivery trucks.
- Financial advisors warn against overinsuring your life insurance needs.
- It’s possible to overinsure your jewelry and pay unnecessary premiums.
- The business owner chose to overinsure rather than risk a major loss.
- Insurance agents sometimes encourage clients to overinsure for higher commissions.