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Not sure if you meant over insured and under insured. Basically there is a provision in homeowners and condo owner policies called a Co-Insurance penatly if you are not insured to 80% of replacement cost (not market value) of the home. If you are insured less than the 80% (under insured), you will not get you complete coverage limit but a reduced amount.
Over insured is a little different. Lets say you insure your home at $100,000 and it would only cost $80,000 to replace. The insurance company would only pay the $80,000 but your premium paid was based on the $100,000 amount. If you are over insured, you will over pay for coverage. **Some states are "Valued Policy" states and you would get the full $100,000.
Just a quick answer, but I hoped it helped.
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∙ 12y ago
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What is under insurance over insurance?
Under insurance is not carrying enough insurance to cover your assets in the even of a liability claim or not carrying enough insurance to satisfy your bank / lienholder. Over insurance is carrying more insurance than you need. This is more common with home insurance. For example, insuring a 1000 square foot house for 1,000,000, would be considered more insurance than you'd ever need.
The different between over- and under insurance?
i think that Over means ( above the thing but not touching it ) Under ( under the things ) , e.g : I put my leg under the table. i hope you a good time ;)
What kind of insurance covers you running over someone's mailbox?
That would be under a collision insurance. The property damage portion would pay for the mailbox.
Can proportionate dwarf collect disability insurance?
Yes if they are aged over 21 and are 4ft 10" or under they recieve over £400 a week
What is under insurance?
When you file an insurance claim, if you do not have enough insurance coverage, under insurance claims can be the result. Under insurance is a term used when calculating claims when the coverage is not enough and the policy has undervalued the amount insured.
Can rifle be covered under insurance?
Yes a RIFLE can be covered under insurance
Will your unmarried daughter's pregnancy be covered by your insurance?
The fact that the child is illegitimate is irrelevant. If she is under 18, then the insurance will cover it. If she is over 18, it depends on the company. -DJ Craig
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Infinity Insurance has over 12,500 agents across the country. It is a publicly traded company listed on the NASDAQ, under the ticker IPCC.
In Oregon does a speeding ticket that is under 10 MPH over the limit go on your record or affect your insurance?
Yes
Can you be covered by your parents' policy if you are over 18 live with your parents out of high school and the car is registered in your name?
Yes, I have two children over 18 and under 25 who are currently on my insurance. You must go to their insurance company and give them your name etc and they will tell you how much more it is. Beware, if your parents insurance lapses or is canx, you will not have insurance either.
You live with your brother can you drive his vehicles under his insurance?
I live with my brother can I drive his vehicals under his insurance?
Where online can I find out more information on term life insurance quotes?
google "term life insurance" and you will be overwhelmed with choices. If you are over 50, I suggest the AARP website. If under 50, Globe insurance has an excellent reputation and you can search their website.
